Wednesday, 24 July 2013

Charts on Value in Gold Miners - Commercials - GOFO and Comex Stocks

Some interesting charts

Gold Miners offering value?

Commercial Traders Historically low short positions

GOFO extremes

Dramatically Changing "cover" ratios on the Comex

Comex Inventories

Some Food for thought here on what may be happening in the gold market

But beware.........

Bullion Vault doubt the Comex shortage issues

But Jim Sinclair suggests the rate of change is important
 the bottom in gold is not based on a Comex default as there will be no default. Secondly, what makes anyone think the Comex will wait to go to zero ounces in order to change delivery conditions? What counts is not absolute level, but rate of decline. Only someone without any real experience as a member of the exchanges would come up with the soft opinion you quote.

Mike shedlock is positive on gold and the miners but sceptical of backwardation alarmism

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