No, I am not kidding. As noted, COMEX is 16M ounces total net commercial short position (it took them weeks/months to build up this position) vs. 15.2M ounces trading per day at LBMA.
LBMA wholesale/commercial gold trading appears to be over 20 times COMEX trading, and we get no statistics whatsoever from LBMA.
Anyone using COT is looking at 5% of the market and hoping that this is representative to the real market action going on at LBMA.
With all due respect to Louis, I have a dog!! not a cat... Even if I had a cat, not sure it would be better than a barometer, and not sure that the COT acts as a barometer for the LBMA, thus I will keep my dog!!
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