I do not have a lot of time today, as summer only comes once in Canada and the real summer weather only lasts for about 3 weeks, so I must enjoy the sun now b/c September snow is just around the corner (add sarc x 4).
-159,779 ounces withdrawn from the Gold field
-28.09 million ounces left in the Silver "inventories", this is now a tipping point battlefield number by the way.
-US mint sold 3.4 million Eagles in June. Thus far the Mint has eaten up 100% of ALL US silver production JUST for Eagles. Godbless America.
COT Report- WOW.
1. Large specs pitched 36,272 contracts, thats a big number by the way.
2. Large commercials added 10, 013 long and COVERED 32,479 contracts. Huh?
Gold Cot remains bullish
1. Commercial added 1512 long
2. Commercials COVERED 4886
-silver small specs have vanished no leverage left to play with.
My hunch is JPM is starting to get long, and is covering on these massive moves down each day. September should be awesome. Keep some cash around I will have numerous juniors, options to play with.
I will be back later after the sun goes down, Happy 4th of July, thank me lots!