Caledonia Mining Corporation (TSE:CAL)

[NYBob]

Gold LCNS Since September 6 (3 reporting weeks) gold has declined a net $224.95 or 12% (from $1,874.87 to $1,649.92 Tuesday) while the large commercial net short positioning (LCNS) fell by 61,031 contracts or 26.8%.

166,683 contracts net short is the lowest LCNS since May 5, 2009 (160,445 then with $896.75 gold).

465,414 is the lowest COMEX open interest for gold since February 1, 2011 (462,907 then with $1,341.10 gold).

Since August 2, (gold $1,659.23), gold drove up to test the $1,920s and round tripped back to about $1,650 for this COT report. As it did the large commercial traders got the heck out of 42% of their net short positioning (from 287,634 to 166,683 contracts net short). So, in effect, since August 2 gold has dropped a net $9.31 or 0.6% but the large commercial net short positioning plunged a net 120,951 contracts or 42%. – Gold is very close to where it was August 2, but the commercials are hugely less net short, 12.1 million ounces less net short at virtually the same price today.

Producer/Merchant’s reduced their net short positioning by 19,531 or 10.7% for the week.


Swap Dealers were down to just 4,270 contracts net short gold, having covered or offset 11,414 contracts for the week. Swap Dealers have reduced their collective net short gold positioning by a stunning 87,424 contracts or 95% just since August 2.

465,414 is the lowest open interest for gold since February 1 (462,907 then with $1,341.10 gold).

That is all for now, but there is more to come.

Posted by Gene Arensberg at 03:57:04 PM in

Got Gold
King Solomon & Q-Sheba

http://investorshub.advfn.com/boards/replies.aspx?msg=59249631

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=67548731
God Bless