A Brutal Bear Raid: Gold’s 200-Day Moving Average Falls

In silver, I suspect that a goodly chunk of the gross short position in the Big 4 commercial category is mostly held by only two traders…both of them U.S. banks…Wells Fargo and BofA. In yesterday’s Bank Participation Report, 5 U.S. bullion banks held a gross short position of 12,884 COMEX contracts…down a whole bunch from April — and their lowest short position on record.