After holding onto huge, unprofitable long positions for months, gold and silver futures speculators are finally giving up and bailing out, while commercial traders (who take the opposite side of these trades, since every long requires an offsetting short) are closing out their shorts at a near-record pace.
Here’s the gold data for last week, courtesy of GoldSeek. Note the massive shift by speculators from long to short. They’re not in balance yet (where longs and shorts are equal) but they’re heading that way fast.
This post was published at DollarCollapse on DECEMBER 17, 2017.