Silver Linings in a Down Market

Posted by on December 28th 2011 in CFTC, China, Federal Reserve, Gold, Goldman Sachs, India, JPMorgan, Monetary Policy, Short Sellers, Silver, Wall Street | Be the first to comment!

Although silver hit an 11-month low on Wednesday, Arabian Money’s Peter Cooper explains in a SilverSeek article, “Why we are sticking with silver as our top pick for 2012,” and Got Gold Report‘s Gene Arensberg describes Comex silver futures as being “near extreme bullish levels,” based on the latest COT report:  “This is the least net short silver futures for the combined commercial traders in a decade.  We can say that as of December 20, 2011, the usual Big Sellers of silver futures, as a group, were about as confident of silver falling to lower levels as they were a decade ago with silver then trading at $4.20.  The current LCNS condition is rare.  We have only witnessed such low readings of LCNS two times in a decade.”

Related Links:

Reuters:  Gold down 2 percent, at 3-month low as dollar surges

Bloomberg:  Gold posts longest slump since 2009

Jesse’s Café Américain: Gold and silver charts

Barron’s:  Advisors: save your ammo, gold & silver at crossroads

Kitco:  Outlook 2012:  Silver should see renewed investor interest on global finance worries

Trader DanLong-term gold chart views

Bill Bonner:  Gold in the next calendar year

Forbes:  2012: Gold above $2,000, BRIC bubble pops, Sarkozy, Merkel & Obama re-elected

Bloomberg:  Goldman Sachs:  BRIC decade ends as growth peaked

Bullion Street:  China gold exchange curbs unlikely to create major impact

Zero Hedge:  Update on the “non-printing” ECB’s parabolically rising balance sheet

GoldAlert/WSJ:  Ex-Fed official accuses Bernanke of “covert bailout” of European banks in op-ed

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Economic Times:  Gold may become acceptable asset class for India’s insurers

Reuters:  U.S. Mint says has enough gold, silver Eagles coins

NASDAQ:  Speculative money pouring out of GLD, keeping SLV under pressure

Seeking Alpha:  Is paper gold a safe investment?

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