{"id":19974,"date":"2022-08-04T07:30:03","date_gmt":"2022-08-04T11:30:03","guid":{"rendered":"https:\/\/www.jeffclarktrader.com\/?p=19974"},"modified":"2022-08-04T07:30:03","modified_gmt":"2022-08-04T11:30:03","slug":"why-silver-is-looking-super-bullish","status":"publish","type":"post","link":"https:\/\/jeffclarktrader.com\/market-minute\/why-silver-is-looking-super-bullish\/","title":{"rendered":"Why Silver Is Looking \u201cSuper Bullish\u201d"},"content":{"rendered":"<p>If the setup in gold looks bullish, then I&rsquo;m not sure how to describe what we&rsquo;re seeing with silver.<\/p>\n<p>Maybe super-bullish? Let me explain&hellip;<\/p>\n<p><a href=\"https:\/\/www.jeffclarktrader.com\/market-minute\/the-smart-money-crowd-is-finally-bullish-on-gold\/\" target=\"_blank\" rel=\"noopener\">Last week<\/a>, we noted the &ldquo;smart money&rdquo; had turned bullish on gold. The CFTC Commitment of Traders (COT) report showed commercial traders (a.k.a. the smart money) had the lowest net-short position in gold in over two years.<\/p>\n<p>The smart money net-short position (short futures contracts minus long futures contracts) had fallen to 111,000 contracts&hellip;<\/p>\n<p>Most of the time, when gold is at a relatively low level and commercial traders expect it to be higher soon, the smart money net-short interest often drops to less than 200,000 contracts.<\/p>\n<p>So, a net-short interest of 111,000 contracts is quite bullish.<\/p>\n<p>Last Friday, the CFTC reported the commercial traders net-short position fell even more to 108,000 contracts.<\/p>\n<p>It shouldn&rsquo;t be a big surprise that the price of gold has rallied sharply over the past two weeks.<\/p>\n<p>The shiny yellow metal was trading for $1,700 an ounce in mid-July. It traded yesterday above $1,790. And if the smart money is right, then gold should be a lot higher in the weeks and months ahead.<\/p>\n<p>But as bullish as the smart money is on gold, it&rsquo;s even more bullish on silver.<\/p>\n<table bgcolor=\"#eeeeee\" border=\"0\" cellpadding=\"10\" cellspacing=\"0\" width=\"100%\" style=\"border: 1px solid #D7D7D7; margin-bottom:20px;\">\n<tbody>\n<tr>\n<td style=\"padding-left: 15px;padding-right: 15px; padding-top: 15px; font-family: Arial,sans-serif;font-size:17px; line-height:24px;\">\n<p align=\"center\"><strong>Free Trading Resources<\/strong><\/p>\n<p>Have you checked out Jeff&#8217;s free trading resources on his website? It contains a selection of special reports, training videos, and a full trading glossary to help kickstart your trading career \u2013 at zero cost to you. Just <a href=\"https:\/\/www.jeffclarktrader.com\/\" target=\"_blank\" rel=\"noopener\">click here<\/a> to check it out.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>The most recent CFTC report shows that as of last Tuesday the commercial trader net-short interest in silver futures contracts is just 2,000 contracts.<\/p>\n<p>Meaning that the merchants, miners, explorers, and bankers in the mining sector are not hedged much at all against a downside move in silver.<\/p>\n<p>This is the smallest net-short position the smart money has had in silver since June of 2019 &ndash; just before silver rallied 33% in three months.<\/p>\n<p>Of course, that doesn&rsquo;t mean the situation will play out the same way this time around. Past performance is not a guarantee of future results&hellip;<\/p>\n<p>But if the brightest minds in the silver industry are bullish on the metal&rsquo;s prospects &ndash; and the smart money is almost always right &ndash; then maybe we ought to be bullish too.<\/p>\n<p>Traders should take advantage of any weakness in silver and use it as a chance to buy.<\/p>\n<p>Best regards and good trading,<\/p>\n<table style=\"margin-bottom: 20px;\">\n<tr>\n<td><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/files.jeffclarktrader.com\/global\/signatures\/jeff-clark-signature.png\" width=\"200\" height=\"77\" alt=\"signature\"><\/td>\n<\/tr>\n<\/table>\n<p>Jeff Clark<\/p>\n<p><!-- MAILBAG BEGIN --><\/p>\n<h2 style=\"text-align:center\"><strong>Reader Mailbag<\/strong><\/h2>\n<p>Will you be buying silver because of what the &ldquo;smart money&rdquo; says? Or are you bearish on silver?<\/p>\n<p>Let us know your thoughts &ndash; and any questions you have &ndash; at <a href=\"mailto:feedback@jeffclarktrader.com\">feedback@jeffclarktrader.com<\/a>.<\/p>\n<p><!-- MAILBAG END --><\/p>\n","protected":false},"excerpt":{"rendered":"<p>As bullish as the smart money is on gold, it\u2019s even more bullish on silver&#8230;<\/p>\n","protected":false},"author":49,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"ep_exclude_from_search":false,"service":"","footnotes":""},"categories":[1],"tags":[],"publication":[10],"person":[7],"newsletter-type":[],"ticker":[],"class_list":["post-19974","post","type-post","status-publish","format-standard","hentry","category-market-minute","publication-market-minute","person-jeff-clark"],"acf":[],"_links":{"self":[{"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/posts\/19974","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/users\/49"}],"replies":[{"embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/comments?post=19974"}],"version-history":[{"count":0,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/posts\/19974\/revisions"}],"wp:attachment":[{"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/media?parent=19974"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/categories?post=19974"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/tags?post=19974"},{"taxonomy":"publication","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/publication?post=19974"},{"taxonomy":"person","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/person?post=19974"},{"taxonomy":"newsletter-type","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/newsletter-type?post=19974"},{"taxonomy":"ticker","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/ticker?post=19974"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}