from The Daily Bell:
NEW YORK, July 15 … Hedge funds and money managers again raised their net long positions in COMEX silver futures and options to fresh record highs in the week to July 12, as spot prices hovered near two-year highs, data showed on Friday. As gold’s safe-haven appeal waned, speculators cut their record bullish bets for the first time in five weeks and raised their net longs in copper, U.S. Commodity Futures Trading Commission (CFTC) data showed. For silver, it was also the fifth straight week of additions. – Reuters
Silver and gold have had terrific weeks but as we’ve been showing, the mainstream media, especially the business media, often focuses on the negatives.
Meanwhile, the news queues are filled with anti-metals propaganda.
Why silver’s post-Brexit bull run may soon be over … While the fallout from the Brexit vote has added uncertainty to global markets, some investors have been profiting off the increased appetite for safety plays.
Since Britain voted to leave the EU, the price of silver has shot up about 17%, hovering near its highest level in nearly two years. Its strong performance over the past few weeks has made it one of the best-performing major asset classes since the vote, driven by investors’ demand for risk-off trading.
But after its big run, investors are asking if silver can keep its upward momentum going. Bob Iaccino, chief market strategist and co-founder of Path Trading Partners, told Yahoo Finance’s Seana Smith in the video above that investors need to be careful of money managers beginning to take profits, warning that now may not be the best time to buy the metal.
Would you ever see this sort of article in response to a stock rally? Far more likely that Yahoo would be presenting an article asking “How high can the Dow go?”
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