from Gold Silver Worlds:
The speculative community has literally crushed the gold and silver price in the second quarter of 2013. The outlook for gold and silver remains bleak, at least for traders on the long side. We are not talking about investors who own the metal (in PHYSICAL form) with the aim to be their own central bank (one that really cares).
Yesterday’s COT report in which futures positions of commercials and speculators are revealed (updated in below chart) gives an insight in the outlook of the precious metals prices. This is important information because those “paper markets” (i.e. futures markets like COMEX and LBMA) still continue to dominate price setting. Whether we like it or not, for now “price discovery” (whatever that may mean) is still dominated in those markets.
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