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Message: Net short positions for gold and silver on the Comex is at . . .
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Nov 23, 2008 04:51AM

Net short positions for gold and silver on the Comex is at . . .

in response to by
posted on Nov 23, 2008 09:34AM

multiyear lows for the largest of the large traders.

At the same time the newswires are flooded with reports of mining companies having to close existing mines due to low prices of metals. New mines that were due to come on line are also being shelved. So, at the same time that we have the highest premiums since 1980 for physical gold and silver – when one cannot actually find gold and silver bullion at anything even close to the futures-dominated spot price - we learn that there is a huge increase in the number of “currencies” out there about to be chasing a vastly reduced amount of physical production.

Short term virtually anything is possible in this crazy futures-dominated market, but shouldn’t that be a potent recipe for an explosion in precious metals prices over the longer term?

Got gold? Got Silver? Got mining shares? The latter at "fire sale" prices but not for long! (pardon the pun!)

The King, the $US, may not be short, but is unequivicably "naked!"

RUF

PS: AA's win over time! With SAN you're dealt AA's in virtually every hand!


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