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Gold Shorts Covered, Silver Shorts Added

October 24, 2023

Just a few weeks ago the gold and silver prices were languishing again, with gold trading in the $1830's while silver was below $21. Yet we've seen a substantial rally since then, partially aided by the unfortunate geopolitical events in the middle east, that left gold briefly over the $2,000 mark on Friday, while silver was within shouting distance of $24.

Both metals have pulled back slightly on Monday morning trading following the rally, and in today's update Vince Lanci talks about the positioning going on beneath the surface over the past week.

He comments on the latest developments among the gold and silver shorts, talks about what the CTA's have been doing, and offers his expectations on where the market is headed between now and the end of the year. Vince also gives an update on how the end of sell season in the metals is now upon us, and how that will transition into buy season as institutional funds begin to position themselves heading into 2024.

So to stay up to date on the latest changes driving the gold and silver markets, click to watch this update now!

Arcadia Economics


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