Gold COT (CFTC - Commitment of Traders) for Period 5/23-5/29/2012

By: Marshall Swing | Tue, Jun 5, 2012
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Commercials sacrificed -2,542 longs in order to cover -7,431 shorts to end the week with 56.09% of all open interest almost .8% higher than last week, and now stand as a group at -13,070,900 ounces net short, another huge decrease of over 500,000 ounces net short from the previous week. None of the speculators seem to comprehend what these criminals are up to in their strategy to get out of net short positions.

Large speculators got suckered out of a massive -2,112 long contracts and were suckered into picking up 2,237 shorts for a net long position of 11,071,200 ounces, a substantial decrease in their net long position of well over 550,000 ounces from the prior week. They are playing right into the commercial's hand but no one is willing to see what is happening for what it really is and they are greedy so more power to them as they get killed like lambs to the slaughter. I say this every week but no one seems to listen. They will deeply regret these net short positions they are accumulating and they will NEVER be able to cover those positions when the price of silver drops way down because there will be no longs to match them. They will lose billions of fiat USD fake dollars.

Small speculators mistakenly sold -2,695 longs but surprisingly covered -2,245 shorts for a net long position of 1,999,700 ounces a small decrease in their long position from the prior week.

The commercials had it easy with the large speculators. This managed money large speculators have no idea whatsoever what they are doing, it appears. This makes me wonder all week long who of over "faithful" precious metals commentators is advising these large specs so poorly! That is the case as to what is going on and it makes me cring to think some of the same people whose articles are published on all the silver and gold sights are intentionally doing this to the large speculators for their own greedy gain so their "strong hand" long positions come back towards being in the money.

I want to be very clear as to what is going on here. It is just as criminal what these so-called advisors are doing to these speculators as it is criminal what the commercial speculators have done through their massive short positions.

As I stated in the silver COT, it now appears that the CFTC commissioners are going to white-wash their investigation into silver manipulation and probably not even institute any position limits except maybe on the speculators as Bart Chilton seems convinced there is no manipulation and the massive short positions are bonafide hedge positions. What total rubbish!! The CFTC commissioners are all career criminals and hopefully one day they will go to jail because of what they have done and have been the third party. Accessory to "murder" I believe it should be labeled.

I have been saying for years that Chilton is nothing but a good cop shill of the producer and finally I have been proven correct in my opinion as even Ted Butler has now given up all hope in Bart Chilton.

For your convenience, if you would like to contact the CFTC and express your views to them, I have provided you their phone numbers and I hope earnestly that you fill up their phone lines: http://www.cftc.gov/Contact/index.htm and email addresses as well:
ggensler@cftc.gov Chairman Gensler
bchilton@cftc.gov Commissioner Chilton
jsommers@cftc.gov Commissioner Sommers
Somalia@cftc.gov Commissioner O'Malia
mwetjen@cftc.gov Commissioner Wetjen
dmeister@cftc.gov Director Meister

How long must the there exist no free market for speculators in the COMEX metals? How much ill-gotten gain from speculators, at the hands of these producer/merchants, is enough for these commissioners to act and do their jobs to ensure a free market can counter their massive open interest monopolies?

The only way to beat the producer/merchants at their game is to go long and stay long. Easier said than done when you watch price drop significantly below your buy price, I know.

Gold Commitment of Traders

See you next week!

 


 

Marshall Swing

Author: Marshall Swing

Marshall Swing
The Got Phyzz? Report

Marshall Swing

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