The chart above indicates the weekly change in open interest for spot gold over a two year period with the first week of 2008 on the far right of the chart and with last week’s open interest on the far left.  Last week’s open interest  for gold was 466,905 contracts, having fallen from the previous [...]

No real change since last week other than commercials still selling into a rising market, although the volume of contracts has substantially reduced in the futures market since this time last year.  As an example this time last year  the total number of positions was 141k whereas last week the total number was close to [...]

The bullish momentum of gold seems to have remained in place with the COT index for this week showing only a minor fall back from the last two weeks, which reflects the pull back in spot gold prices. Assuming the trend continues, then we should see higher prices in gold over the next few months, [...]

The weekly COT index chart for gold, shows little change on last week suggesting that the trend for spot gold prices is to move higher, with the commercials showing a slight decline as the spot price fell from $1000 per ounce to close the week around $920 per ounce. Despite the rally in equities last [...]

The COT index for gold shows that the rally in the price of gold seems set to continue for some time yet, with last weeks data showing a slight pullback from the rally of the last few weeks, which is reflected in the spot market. The candle chart of two weeks ago provided a bearish [...]

In the last two weeks the COT index has begun to climb heading back up from the low of 15 weeks ago which suggests that the commercial contract holders are increasingly seeing an opportunity to sell into the rising prices in spot gold, which touched $1000 per ounce on Friday, before falling back to close [...]

Much the same as last week with the index falling, this suggests that the commercial group is expecting crude oil prices to fall further and are therefore stockpiling supplies in the hope of prices rising in the future. For a clear buying signal we need to wait for the index to reach a low of [...]

The COT report for this week shows the commercial traders beginning to sell into the rising trend in spot gold prices, so we should expect to see the trend continue for the short term at least, following the low of 12 weeks ago, as I have been suggesting in the spot gold prices daily report [...]

The futures’ positions of the commercial players remains largely unchanged since last week when we saw the oil price spike up to $55 dollars a barrel and despite today’s fall in the spot market my view remains unchanged and has been reinforced by the monthly WTI crude oil chart which shows a long legged doji [...]

The reversal in crude oil prices now seems to be in place, with the COT index moving firmly away from the extreme of two weeks ago, which suggested that we should see bullish trend starting in oil prices, which now seems to be the case in the daily oil price, as it breaks out from [...]

The weekly chart for crude oil futures, shows little change in the COT index data, with a very low reading once again, suggesting that we are reaching a turning point for the daily oil price, and it would not be a surprise to see oil prices rising in the near future. The trend of the [...]

The COT index is still extremely volatile with peaks one week and troughs the next, and with no real direction or indication of a price trend, which in many ways reflects the market at present, with prices consolidating in a relatively narrow trading range in the daily oil price between $35 and $50 per barrel. [...]

With the index falling, this suggests that the commercial group is expecting crude oil prices to fall further and are therefore stockpiling supplies in the hope of prices rising in the future. For a clear buying signal we need to wait for the index to reach a low of 5-10, before we can expect any [...]

As with silver the futures’ positions of the Commercials shows an expectation of further increases in the price of gold, a position which is likely to remain unchanged until we reach an extreme on the COT index approaching anywhere close to 100, assuming the current trend continues to build as we have seen over the [...]

As with the gold COT index, so the same picture appears with silver, with the bullish momentum now in place, and whilst we have seen a pullback in the last two weeks which is reflected in the spot silver price chart, unless we see a fall back to the extremes of 5 and below, then [...]

The COT index for silver show little change on last week, with a small change in the contract positions as as result of the decline in the spot silver price last week. Unless this decline continues for the next few weeks, then I would suggest that this is only a temporary reversal in the longer [...]

Much the same applies to silver as to gold, with the index suggesting that silver has further to run in the current bull rally, despite the pullback that we saw in the candle spot silver price charts last week. With the index in the low 30′ and rising, this is suggesting that the commercial traders [...]

Just like the gold index,  the COT index for silver has begun to climb heading back up from the low of 18 weeks ago which suggests that the commercial contract holders are increasingly seeing an opportunity to sell into the rising prices in spot silver, which has been following gold in the bull rally of [...]

Silver and gold will always tend to follow one another, with gold prices often performing better in a bullish  move then gold, but conversely they tend to perform worse in a bearish market. Last week we saw a rise in the Silver Index to 22, and this suggests that we are now starting to see [...]

Silver and gold will always tend to follow one another, with gold prices often performing better in a bullish  move then gold, but conversely they tend to perform worse in a bearish market. Last week we saw a rise in the Silver Index to 20, and this suggests that we are now starting to see [...]