from KingWorldNews:
Eric King: “Dan, what about the COT (Commitment of Traders Report)? I know once again there was some major movement there?”
Norcini: “One of the things that caught my eye this week was the swap dealer (activity).
They were selling a lot of gold. There was a big, big jump in their short positions overall. They piled on almost 26,000 shorts.
Very interesting, also, the producer/merchant (commercial) category didn’t have a lot of movement. They were pretty flat on the week again. So the bulk of the selling really came from the swap dealers. I can’t help but think that some of that swap dealer selling was related to hedges being instituted for mining companies.”
Dan Norcini continues @ KingWorldNews.com
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Eric King: “Dan, what about the COT (Commitment of Traders Report)? I know once again there was some major movement there?”Norcini: “One of the things that caught my eye this week was the swap dealer (activity).
They were selling a lot of gold. There was a big, big jump in their short positions overall. They piled on almost 26,000 shorts.
Very interesting, also, the producer/merchant (commercial) category didn’t have a lot of movement. They were pretty flat on the week again. So the bulk of the selling really came from the swap dealers. I can’t help but think that some of that swap dealer selling was related to hedges being instituted for mining companies.”
Dan Norcini continues @ KingWorldNews.com
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