Silver Breaks $37 Again, & We're On Track For A Record Bank Short Position This Friday
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We saw a return of the gold and silver divergence on Tuesday, as the silver price was up another 72 cents, while the gold futures declined by $11.
Here’s a look at today’s silver chart.
And here you can see the move in gold.
Today was also the cutoff for the next COT report out of the CFTC this Friday. Which means that today’s rally will be included, during which the banks likely added additional shorts.
Silver rose about 40 cents during the reporting week (from the cutoff last Tuesday to the cutoff today), and we’ll find out on Friday if they do finally break the all-time record of 49,609 contracts set back in July 2016.
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