Friday, May 25, 2012
Friday, May 18, 2012
Commercial net short still lower
| 138,917 |
Friday, May 11, 2012
What's next for gold? Here's one indicator
Lowest hedge level by commercials since --- gold was $895, 3 and 1/2 years ago. Column to farthest right is net commercial contracts short:
Closer to a bottom? Commercials, the ones who tend to "know," are curtailing their sales here. Doesn't mean we can't go lower here. We can. Still........this indicator has proven rather uncanny in times past.
| -64.50 | 76.39% | (26,548) | 1580.20 | 5/11/12 | 151,455 |
| -19.10 | 83.59% | 10,766 | 1644.70 | 5/4/12 | 178,003 |
| 21.00 | 85.73% | (8,854) | 1663.80 | 4/27/12 | 167,237 |
| -14.40 | 83.38% | 5,042 | 1642.80 | 4/20/12 | 176,091 |
| 25.20 | 84.99% | (6,415) | 1657.20 | 4/13/12 | 171,049 |
| -37.20 | 82.18% | (7,612) | 1632.00 | 4/6/12 | 177,464 |
| 5.50 | 86.33% | 18,938 | 1669.20 | 3/30/12 | 185,076 |
| 4.30 | 85.72% | (25,550) | 1663.70 | 3/23/12 | 166,138 |
| -52.90 | 85.24% | (8,520) | 1659.40 | 3/16/12 | 191,688 |
| -0.20 | 91.14% | (45,143) | 1712.30 | 3/9/12 | 200,208 |
| -58.90 | 91.16% | 16,049 | 1712.50 | 3/2/12 | 245,351 |
| 48.30 | 97.74% | 19,894 | 1771.40 | 2/24/12 | 229,302 |
| 4.20 | 92.35% | (11,664) | 1723.10 | 2/17/12 | 209,408 |
| -6.50 | 91.88% | 11,210 | 1718.90 | 2/10/12 | 221,072 |
| -12.10 | 92.60% | 30,094 | 1725.40 | 2/3/12 | 209,862 |
| 70.90 | 93.95% | 6,792 | 1737.50 | 1/27/12 | 179,768 |
| 29.40 | 86.04% | 6,402 | 1666.60 | 1/20/12 | 172,976 |
| 20.60 | 82.76% | 4,731 | 1637.20 | 1/13/12 | 166,574 |
| 51.60 | 80.46% | (2,089) | 1616.60 | 1/6/12 | 161,843 |
| -40.00 | 74.70% | (622) | 1565.00 | 12/30/11 | 163,932 |
| 7.50 | 79.16% | (21,663) | 1605.00 | 12/23/11 | 164,554 |
| -117.50 | 78.33% | (15,283) | 1597.50 | 12/16/11 | 186,217 |
| -30.30 | 91.44% | 7,955 | 1715.00 | 12/9/11 | 201,500 |
| 56.80 | 94.82% | 1,132 | 1745.30 | 12/2/11 | 193,545 |
| -30.50 | 88.48% | (11,750) | 1688.50 | 11/25/11 | 192,413 |
| -54.00 | 91.89% | 7,228 | 1719.00 | 11/18/11 | 204,163 |
| 24.00 | 97.92% | 14,535 | 1773.00 | 11/11/11 | 196,935 |
| 4.60 | 95.24% | 14,286 | 1749.00 | 11/4/11 | 182,400 |
| 105.70 | 94.72% | 8,961 | 1744.40 | 10/28/11 | 168,114 |
| -41.30 | 82.92% | (9,325) | 1638.70 | 10/21/11 | 159,153 |
| 28.00 | 87.54% | 3,727 | 1680.00 | 10/14/11 | 168,478 |
| 27.20 | 84.41% | (1,932) | 1652.00 | 10/7/11 | 164,751 |
| -22.20 | 81.37% | (30,945) | 1624.80 | 9/30/11 | 166,683 |
| -162.60 | 83.85% | (12,840) | 1647.00 | 9/23/11 | 197,628 |
| -49.80 | 102.00% | (17,246) | 1809.60 | 9/16/11 | 210,468 |
| -22.50 | 107.56% | 10,359 | 1859.40 | 9/9/11 | 227,714 |
| 68.20 | 110.07% | (13,081) | 1881.90 | 9/2/11 | 217,355 |
| -32.70 | 102.46% | (18,411) | 1813.70 | 8/26/11 | 230,436 |
| 101.20 | 106.11% | (359) | 1846.40 | 8/19/11 | 248,847 |
| 86.90 | 94.81% | (38,428) | 1745.20 | 8/12/11 | 249,206 |
| 33.40 | 85.11% | 4,661 | 1658.30 | 8/5/11 | 287,634 |
| 22.50 | 81.38% | 19,159 | 1624.90 | 7/29/11 | 282,973 |
| 8.30 | 78.87% | 19,565 | 1602.40 | 7/22/11 | 263,814 |
| 50.10 | 77.95% | 42,247 | 1594.10 | 7/15/11 | 244,249 |
| 57.70 | 72.35% | (6,753) | 1544.00 | 7/8/11 | 202,002 |
| -13.30 | 65.91% | (42,492) | 1486.30 | 7/1/11 | 208,755 |
| -37.90 | 67.40% | 13,818 | 1499.60 | 6/24/11 | 251,247 |
| 5.00 | 71.63% | (10,255) | 1537.50 | 6/17/11 | 237,429 |
| -9.80 | 71.07% | 7,176 | 1532.50 | 6/10/11 | 247,684 |
| 6.80 | 72.16% | 23,271 | 1542.30 | 6/3/11 | 240,508 |
| 22.00 | 71.40% | 10,288 | 1535.50 | 5/27/11 | 217,237 |
| 19.80 | 68.95% | (14,632) | 1513.50 | 5/20/11 | 206,949 |
| 1.00 | 66.74% | (18,521) | 1493.70 | 5/13/11 | 221,581 |
| -73.00 | 66.63% | (8,892) | 1492.70 | 5/6/11 | 240,102 |
| 60.70 | 74.78% | (17,554) | 1565.70 | 4/29/11 | 248,994 |
| 18.60 | 68.00% | 12,860 | 1505.00 | 4/22/11 | 266,548 |
| 11.50 | 65.92% | (4,977) | 1486.40 | 4/15/11 | 253,688 |
| 46.30 | 64.64% | 17,896 | 1474.90 | 4/8/11 | 258,665 |
| -1.60 | 59.47% | 15,970 | 1428.60 | 4/1/11 | 240,769 |
| 10.50 | 59.65% | 4,645 | 1430.20 | 3/25/11 | 224,799 |
| 0.20 | 58.48% | (27,310) | 1419.70 | 3/18/11 | 220,154 |
| -10.00 | 58.46% | (3,132) | 1419.50 | 3/11/11 | 247,464 |
| 20.90 | 59.57% | 18,790 | 1429.50 | 3/4/11 | 250,596 |
| 19.50 | 57.24% | 13,180 | 1408.60 | 2/25/11 | 231,806 |
| 33.20 | 55.06% | 8,715 | 1389.10 | 2/18/11 | 218,626 |
| 7.00 | 51.36% | 16,714 | 1355.90 | 2/11/11 | 209,911 |
| 11.00 | 50.58% | (4,286) | 1348.90 | 2/4/11 | 193,197 |
| -4.00 | 49.35% | (8,988) | 1337.90 | 1/28/11 | 197,483 |
| -17.20 | 49.79% | (18,593) | 1341.90 | 1/21/11 | 206,471 |
| -10.50 | 51.71% | (29,518) | 1359.10 | 1/14/11 | 225,064 |
| -51.60 | 52.89% | (5,188) | 1369.60 | 1/7/11 | 254,582 |
| 37.20 | 58.65% | 7,962 | 1421.20 | 12/31/10 | 259,770 |
| 8.50 | 54.49% | (16,327) | 1384.00 | 12/24/10 | 251,808 |
| -11.60 | 53.54% | (10,538) | 1375.50 | 12/17/10 | 268,135 |
| -21.40 | 54.84% | 8,204 | 1387.10 | 12/10/10 | 278,673 |
| 44.50 | 57.23% | 6,576 | 1408.50 | 12/3/10 | 270,469 |
| 11.80 | 52.26% | (1,015) | 1364.00 | 11/26/10 | 263,893 |
| -16.20 | 50.94% | (26,045) | 1352.20 | 11/19/10 | 264,908 |
| -25.80 | 52.75% | 14,341 | 1368.40 | 11/12/10 | 290,953 |
| 36.10 | 55.63% | (5,823) | 1394.20 | 11/5/10 | 276,612 |
| 30.40 | 51.60% | (10,647) | 1358.10 | 10/29/10 | 282,435 |
| -39.20 | 48.21% | (6,940) | 1327.70 | 10/22/10 | 293,082 |
| 21.00 | 52.58% | 524 | 1366.90 | 10/15/10 | 300,022 |
| 28.50 | 50.24% | (3,242) | 1345.90 | 10/8/10 | 299,498 |
| 20.40 | 47.06% | 10,432 | 1317.40 | 10/1/10 | 302,740 |
| 22.70 | 44.78% | (631) | 1297.00 | 9/24/10 | 292,308 |
| 27.60 | 42.25% | 5,259 | 1274.30 | 9/17/10 | 292,939 |
| -1.00 | 39.17% | 3,119 | 1246.70 | 9/10/10 | 287,680 |
| 11.80 | 39.28% | 20,261 | 1247.70 | 9/3/10 | 284,561 |
| 8.40 | 37.96% | 14,730 | 1235.90 | 8/27/10 | 264,300 |
| 12.10 | 37.02% | 18,590 | 1227.50 | 8/20/10 | 249,570 |
| 7.65 | 35.67% | 8,951 | 1215.40 | 8/13/10 | 230,980 |
| 25.65 | 34.82% | (5,526) | 1207.75 | 8/6/10 | 222,029 |
| -6.20 | 31.96% | 11,891 | 1182.10 | 7/30/10 | 227,555 |
| -2.50 | 32.65% | (32,684) | 1188.30 | 7/23/10 | 215,664 |
| -18.80 | 32.93% | (794) | 1190.80 | 7/16/10 | 248,348 |
| -2.10 | 35.03% | (40,814) | 1209.60 | 7/9/10 | 249,142 |
| -42.70 | 35.26% | 1,040 | 1211.70 | 7/2/10 | 289,956 |
| -2.60 | 40.03% | 9,972 | 1254.40 | 6/25/10 | 288,916 |
| 30.10 | 40.32% | 5,367 | 1257.00 | 6/18/10 | 278,944 |
| 9.50 | 36.96% | 5,954 | 1226.90 | 6/11/10 | 273,577 |
| 1.40 | 35.90% | (756) | 1217.40 | 6/4/10 | 267,623 |
| 39.00 | 35.74% | (11,365) | 1216.00 | 5/28/10 | 268,379 |
| -57.80 | 31.39% | (2,900) | 1177.00 | 5/21/10 | 279,744 |
| 25.60 | 37.84% | 11,058 | 1234.80 | 5/14/10 | 282,644 |
| 30.90 | 34.98% | 6,064 | 1209.20 | 5/7/10 | 271,586 |
| 23.10 | 31.53% | 8,126 | 1178.30 | 4/30/10 | 265,522 |
| 19.70 | 28.95% | (6,088) | 1155.20 | 4/23/10 | 257,396 |
| -25.50 | 26.75% | 18,578 | 1135.50 | 4/16/10 | 263,484 |
| 34.00 | 29.60% | 37,215 | 1161.00 | 4/9/10 | 244,906 |
| 19.20 | 25.80% | (16,132) | 1127.00 | 4/2/10 | 207,691 |
| 1.20 | 23.66% | (18,472) | 1107.80 | 3/26/10 | 223,823 |
| 4.00 | 23.53% | (9,492) | 1106.60 | 3/19/10 | 242,295 |
| -29.40 | 23.08% | 250 | 1102.60 | 3/12/10 | 251,787 |
| 15.30 | 26.36% | 13,493 | 1132.00 | 3/5/10 | 251,537 |
| -1.00 | 24.65% | 18,166 | 1116.70 | 2/26/10 | 238,044 |
| 26.50 | 24.77% | 6,451 | 1117.70 | 2/19/10 | 219,878 |
| 25.90 | 21.81% | (31,152) | 1091.20 | 2/12/10 | 213,427 |
| -15.30 | 18.92% | (4,039) | 1065.30 | 2/5/10 | 244,579 |
| -11.70 | 20.63% | (25,029) | 1080.60 | 1/29/10 | 248,618 |
| -38.10 | 21.93% | (8,841) | 1092.30 | 1/22/10 | 273,647 |
| -6.20 | 26.18% | 3,937 | 1130.40 | 1/15/10 | 282,488 |
| 41.60 | 26.88% | (391) | 1136.60 | 1/8/10 | 278,551 |
| -9.50 | 22.23% | (6,723) | 1095.00 | 1/1/10 | 278,942 |
| -8.00 | 23.29% | (18,126) | 1104.50 | 12/25/09 | 285,665 |
| -2.50 | 24.19% | 4,605 | 1112.50 | 12/18/09 | 303,791 |
| -46.40 | 24.47% | (9,045) | 1115.00 | 12/11/09 | 299,186 |
| -5.10 | 29.64% | 2,127 | 1161.40 | 12/4/09 | 308,231 |
| 16.40 | 30.21% | 24,558 | 1166.50 | 11/27/09 | 306,104 |
| 31.60 | 28.38% | (1,238) | 1150.10 | 11/20/09 | 281,546 |
| 21.50 | 24.86% | (1,068) | 1118.50 | 11/13/09 | 282,784 |
| 50.90 | 22.46% | 373 | 1097.00 | 11/6/09 | 283,852 |
| -8.60 | 16.77% | (14,014) | 1046.10 | 10/30/09 | 283,479 |
| 1.80 | 17.73% | 1,567 | 1054.70 | 10/23/09 | 297,493 |
| 4.90 | 17.53% | 14,062 | 1052.90 | 10/16/09 | 295,926 |
| 44.00 | 16.99% | 6,630 | 1048.00 | 10/9/09 | 281,864 |
| 13.30 | 12.07% | (12,376) | 1004.00 | 10/2/09 | 275,234 |
| -15.30 | 10.59% | 2,949 | 990.70 | 9/25/09 | 287,610 |
| 0.30 | 12.30% | 13,864 | 1006.00 | 9/18/09 | 284,661 |
| 11.60 | 12.26% | 54,089 | 1005.70 | 9/11/09 | 270,797 |
| 38.00 | 10.97% | 5,366 | 994.10 | 9/4/09 | 216,708 |
| 2.20 | 6.73% | 6,797 | 956.10 | 8/28/09 | 211,342 |
| 0.30 | 6.48% | (18,360) | 953.90 | 8/21/09 | 204,545 |
| -2.40 | 6.45% | (5,288) | 953.60 | 8/14/09 | 222,905 |
| 2.80 | 6.72% | 25,672 | 956.00 | 8/7/09 | 228,193 |
| 0.90 | 6.40% | (1,705) | 953.20 | 7/31/09 | 202,521 |
| 16.60 | 6.30% | 21,939 | 952.30 | 7/24/09 | 204,226 |
| 24.00 | 4.45% | (9,020) | 935.70 | 7/17/09 | 182,287 |
| -20.80 | 1.77% | (6,511) | 911.70 | 7/10/09 | 191,307 |
| -6.10 | 4.09% | 3,388 | 932.50 | 7/3/09 | 197,818 |
| 4.90 | 4.77% | (12,938) | 938.60 | 6/26/09 | 194,430 |
| -5.10 | 4.23% | (17,679) | 933.70 | 6/19/09 | 207,368 |
| -15.50 | 4.80% | (1,474) | 938.80 | 6/12/09 | 225,047 |
| -24.80 | 6.53% | 18,385 | 954.30 | 6/5/09 | 226,521 |
| 22.40 | 9.29% | 25,071 | 979.10 | 5/29/09 | 208,136 |
| 25.50 | 6.79% | 11,885 | 956.70 | 5/22/09 | 183,065 |
| 16.70 | 3.95% | 10,735 | 931.20 | 5/15/09 | 171,180 |
| 29.20 | 2.08% | 7,026 | 914.50 | 5/8/09 | 160,445 |
| -27.40 | -1.18% | 3,811 | 885.30 | 5/1/09 | 153,419 |
| 45.90 | 1.88% | (3,901) | 912.70 | 4/24/09 | 149,608 |
| -13.20 | -3.24% | 286 | 866.80 | 4/17/09 | 153,509 |
| -14.30 | -1.77% | (28,703) | 880.00 | 4/10/09 | 153,223 |
| -28.70 | -0.17% | 637 | 894.30 | 4/3/09 | 181,926 |
| -29.60 | 3.03% | 5,605 | 923.00 | 3/27/09 | 181,289 |
| 24.50 | 6.34% | 2,833 | 952.60 | 3/20/09 | 175,684 |
| -10.30 | 3.60% | (15,550) | 928.10 | 3/13/09 | 172,851 |
| -3.80 | 4.75% | (2,535) | 938.40 | 3/6/09 | 188,401 |
| -52.50 | 5.18% | (5,424) | 942.20 | 2/27/09 | 190,936 |
| 53.60 | 11.04% | 7,648 | 994.70 | 2/20/09 | 196,360 |
| 30.10 | 5.05% | 11,123 | 941.10 | 2/13/09 | 188,712 |
| -15.10 | 1.69% | 19,213 | 911.00 | 2/6/09 | 177,589 |
| 30.90 | 3.38% | 19,445 | 926.10 | 1/30/09 | 158,376 |
| 54.20 | -0.07% | (2,632) | 895.20 | 1/23/09 | 138,931 |
Closer to a bottom? Commercials, the ones who tend to "know," are curtailing their sales here. Doesn't mean we can't go lower here. We can. Still........this indicator has proven rather uncanny in times past.