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Gold COT (CFTC - Commitment of Traders) for Period 5/16-5/22/2012

Commercials bought a significant 2,134 longs and covered -1,185 shorts to end the week with 55.21% of all open interest and now stand as a group at -13,559,800 ounces net short, another significant decrease of over 350,000 ounces net short from the previous week.

Large speculators coughed up -5,500 longs and picked a tremendous 4,491 shorts for a net long position of 11,515,100 ounces, a modest increase from the prior week. They think they are going to make some money but they will destroy themselves financially.

Small speculators also keep jumping into this trap although they did not lose as many longs. They lost -556 longs but purchased a huge 4,884 shorts for a net long position of 2,044,700 ounces, a decrease of almost 500,000 ounces net long from the prior week.

The commercials are working their way out of their massive short positions they have accumulated, over the years since 2010. They know as soon as they unload those positions the market will be long and they will rake in tens of billions of USD fiat paper.

The CFTC knows exactly what these producer/merchants are doing to these speculators, right now, killing them, and these commissioners have placed their full blessing upon this rampant destruction of speculator long positions. However, if these speculators are fool enough to participate in this game then it is perfectly legal what the commercials are doing to them.

For your convenience, if you would like to contact the CFTC and express your views to them, I have provided you their phone numbers and I hope earnestly that you fill up their phone lines: http://www.cftc.gov/Contact/index.htm and email addresses as well:
ggensler@cftc.gov Chairman Gensler
bchilton@cftc.gov Commissioner Chilton
jsommers@cftc.gov Commissioner Sommers
Somalia@cftc.gov Commissioner O'Malia
mwetjen@cftc.gov Commissioner Wetjen
dmeister@cftc.gov Director Meister

How long must the there exist no free market for speculators in the COMEX metals? How much ill-gotten gain from speculators, at the hands of these producer/merchants, is enough for these commissioners to act and do their jobs to ensure a free market can counter their massive open interest monopolies?

gold Commitment of Traders, Open Interest Report

See you next week!

 

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