this comes from ed steer of casey research. i gave up trying to interpret the commitment of traders a long time ago, but he's still trying to do it. as he notes later, august 26 is the next options expiry, so they may try to keep the metals under water till then.

http://caseyresearch.com/displayDrp....

Tuesday's open interest data (the bottom?) was as follows. Gold o.i. fell 7,988 contracts. And silver...for the seventh straight day...showed an o.i. increase again. This time o.i. was up 1,340 contracts! I cannot overemphasize how unbelievable this is, as what you're seeing is unprecedented....and nothing like I've ever seen before! The silver price has plunged about $4.80 since its July 15th high and we are showing silver open interest increasing to within 10,000 contracts of its all-time high!!!

As I've said before, the only way this can happen (without involving spreads) is that the bullion banks are increasing their long positions faster than they're covering their shorts, or the tech funds are going short faster than they are pitching their long positions...or both are happening at the same time. My hat is off to these crooks for hiding their movements in silver without anyone being able to see what's going on behind the scenes. The Commitment of Traders report tomorrow is the most important one that's come out since I've been following it. Will it tell all? As I said yesterday...don't count on it...as the boyz will keep this secret from the light of day as long as they possibly can.