Gold Shorts Covered, Silver Shorts Added -

Gold Shorts Covered, Silver Shorts Added

Oct 23, 2023Jeremy ParkinsonFinance, No picture0

Image Source: UnsplashJust a few weeks ago, the gold and silver prices were languishing again, with gold trading in the $1830’s while silver was below $21. Yet we’ve seen a substantial rally since then, partially aided by the unfortunate geopolitical events in the Middle East, that left gold briefly over the $2,000 mark on Friday, while silver was within shouting distance of $24.Both metals have pulled back slightly on Monday morning following the rally. In today’s update, I talk about the positioning going on beneath the surface over the past week. I comment on the latest developments among the gold and silver shorts, talk about what the CTA’s have been doing, and I provide my expectations on where the market is headed between now and the end of the year.I also give an update on how the end of sell season in the metals is now upon us, and how that will transition into buy season as institutional funds begin to position themselves heading into 2024. So, to stay up to date on the latest changes driving the gold and silver markets, click to watch this update.00:17:46More By This Author:Gold And Silver Break Out As Treasuries Break Down, Exter’s Pyramid WobblesHow Gold, Silver Prices Are Linked To The Reverse Repo FacilityInside The Israel Conflict, Update On De-Dollarization