Au And Ag

This is odd, but not illogical, given the dynamics in play for the gold and silver CoT data and a possible counter-trend setup we have been watching for in the ‘inflation trade’.

Here is the CoT chart for silver that was used in NFTRH 348. Not so bad is it? The extreme was set at the first set of arrows, but Silver CoT has improved greatly over the last couple of weeks.

Courtesy of COTbase

Silver would likely lead gold if a bounce in commodities and certain global markets were to take place. Meanwhile, the actual bullish stuff is elsewhere as the US stock market has re-found its momentum leaders and Europe declines to the upper end of its buy range.