Friday, June 1, 2012

COT net commercial shorts down to 130,709; gold explodes to upside

Dramatic gold move today (+$62) presaged by usually reliable COT indicator: comm'l net short recent low of 130,000 (i.e. the major producers dampened their selling as gold drifted into 1500s.  Look for higher prices to follow):


1621.70 48.70 6/1/12      130,709
1573.00 -17.20 5/25/12      135,598
1590.20 10.00 5/18/12      138,917
1580.20 -64.50 5/11/12      151,455
1644.70 -19.10 5/4/12      178,003
1663.80 21.00 4/27/12      167,237
1642.80 -14.40 4/20/12      176,091
1657.20 25.20 4/13/12      171,049
1632.00 -37.20 4/6/12      177,464
1669.20 5.50 3/30/12      185,076
1663.70 4.30 3/23/12      166,138
1659.40 -52.90 3/16/12      191,688
1712.30 -0.20 3/9/12      200,208
1712.50 -58.90 3/2/12      245,351
1771.40 48.30 2/24/12      229,302
1723.10 4.20 2/17/12      209,408
1718.90 -6.50 2/10/12      221,072
1725.40 -12.10 2/3/12      209,862
1737.50 70.90 1/27/12      179,768
1666.60 29.40 1/20/12      172,976
1637.20 20.60 1/13/12      166,574
1616.60 51.60 1/6/12      161,843