Hey Don, thank you very much for the update. How do you factor COT data into your pricing analysis? There's been considerable growth in short interest in the COT reports for Gold and Silver, and I'm not sure how to square that against the bullish fundamentals underpinning PM demand and the constructive TA patterns in both assets.
I think COT is worthless for analysis. I don't think it ever gives us a clear indicator. Until the COMEX runs out of silver, I think it is basically a nothing-burger for analysis.
There is one thing it is useful for and that is big deliveries. Those show that inventory is shrinking. There was a 5M oz delivery last week. That was big news. However, it was just a data point, and now we wait for more of them.
Hey Don, thank you very much for the update. How do you factor COT data into your pricing analysis? There's been considerable growth in short interest in the COT reports for Gold and Silver, and I'm not sure how to square that against the bullish fundamentals underpinning PM demand and the constructive TA patterns in both assets.
I think COT is worthless for analysis. I don't think it ever gives us a clear indicator. Until the COMEX runs out of silver, I think it is basically a nothing-burger for analysis.
There is one thing it is useful for and that is big deliveries. Those show that inventory is shrinking. There was a 5M oz delivery last week. That was big news. However, it was just a data point, and now we wait for more of them.