- Gold, Silver, Wine Trading



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Name Last Symbol Expire Date Bid Ask  
American Eagle Gold Coin (1 oz.) American Eagle Gold Coin (1 oz.) $1,137.82  GOLD1ozAE-2012/12/31 12/31/15 $1,137.82 $1,320.28 Buy Sell
Canadian Maple Gold Coin (1 oz.) Canadian Maple Gold Coin (1 oz.) $1,137.82  GOLD1ozCM-2012/12/31 12/31/15 $1,137.82 $1,320.08 Buy Sell
American Eagle Silver Coin (1 oz.) American Eagle Silver Coin (1 oz.) $34.08  SILVER1ozAE-2012/12/31 12/31/15 $16.16 $21.51 Buy Sell
Canadian Maple Silver Coin (1 oz.) Canadian Maple Silver Coin (1 oz.) $35.66  SILVER1ozCM-2012/12/31 12/31/15 $16.16 $21.01 Buy Sell
US90% Silver Coins $100 Face (pre1965) (71.5 oz.) US90% Silver Coins $100 Face (pre1965) (71.5 oz.) $1,094.67  SILVER90PC100F-2012/12/31 12/31/15 $1,094.67 $1,352.78 Buy Sell
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  GLD vs. IAU: Which Gold ETF is Better? Dan Mozkowitz 2015-03-26 05:03:06.0
Will gold rise or fall? That's ultimately for you to decide and there are two different sides to the argument.
  Gold Technical Chart Turns Bullish Jason Hamlin 2015-03-26 04:44:19.0
Precious metals have rebounded strongly over the past week, following comments from the
  Signs that America Will Hit the Wall and Go Splat!! Jason Hamlin 2015-03-26 04:12:00.0
  10 Tips to Prepare for Spring Flooding martenson 2015-03-25 22:03:14.0
  Most Recent Comments via Twitter 2015-03-25 21:25:45.0
You can access them
  Platitudes, Hypocrisies and ?Pimpocracy? Bill Bonner 2015-03-25 20:16:56.0
This post
  Extremes In The Markets: Expect Consequences (Part I) Gary Christenson 2015-03-25 20:10:39.0
WHAT EXTREMES?The S&P 500 Index has tripled in 6 years, is overbought, and at an all-time high.
  Interview with WallStreetWindow Jordan Roy-Byrne, CMT 2015-03-25 19:50:33.0
The interview is at
  Felix Zulauf: Global Financial Markets Are More Distorted Than Ever Before Gold Silver Worlds 2015-03-25 19:19:24.0
Investors started off 2015 with a slow global economy, low oil prices, a strong Dollar, and a deflationary Europe with great uncertainties on the progress of the US economy and the recent launch of Europe's quantitative easing.
  Why Is Everything Cheaper in India? Stephen Petranek 2015-03-25 18:22:53.0
This post
  WARNING: A Massive Housing Bomb Is About to Explode! Greg Guenthner 2015-03-25 15:11:40.0
This post
  Marc Faber: Indian Stocks can correct by 20% MarcFaberBlog 2015-03-25 13:12:43.0
How do you see Indian markets performing in 2015? Marc Faber: At this point of time, Indian stocks are due for a correction.
  Daily Digest 3/25 - Funding Shortfalls Put Pensions in Peril, Spanish Youth Unemployment Triples martenson 2015-03-25 12:41:14.0
  Precious Metals Video Market Update Jordan Roy-Byrne, CMT 2015-03-25 09:17:11.0
Here are some key levels to watch in Gold & Silver and the HUI Gold Bugs index.
  What to Watch During Precious Metals Rally?03.24.15 Jordan Roy-Byrne, CMT 2015-03-25 08:02:09.0
Here are some key levels to watch in Gold & Silver and the HUI Gold Bugs index.
  Gold Technical Chart Turns Bullish Jason Hamlin 2015-03-25 07:05:49.0
  Anglo American and Atlas Copco to Test New Underground Mining Technology Robert Spence 2015-03-25 03:55:50.0
The mining industry continues to push the seams of innovation.
  Some Investors Pull out of the Palladium ETF Tom Lydon 2015-03-25 03:37:00.0
With the strong dollar plaguing prices for some precious metals, it is not surprising that investors are parting ways with some exchange traded funds backed by physical holdings of gold, silver and related fare.
  Gold Trades Near Two-Week High on Rates Outlook After CPI Data Phoebe Sedgman 2015-03-25 03:12:03.0
Gold traded near the highest price in more than two weeks as investors assessed the outlook for higher U.
  Irish gold mine could yield more than ?150m Paul O'Donoghue 2015-03-25 01:31:02.0
Exploration company
  Italian prosecco sales fizz with no sign of bubble bursting Thu, 26 Mar 2015 22:28:57 -0700
If there was one tipple wine lovers couldn't get enough of last year it was prosecco, the Italian sparkler that has outstripped champagne as the world's favourite bubbly. A disappointing 2014 harvest means producers could soon be struggling to keep pace with expanding demand as consumers in China -- where the wine industry is burgeoning -- and South-East Asia look to join a party already in full ...
  Gold & Silver Market Morning Thu, 26 Mar 2015 19:06:55 -0700
Gold Today ? New York closed at $1,195.60 up $1.90. Asia took it much higher to $1,213 before London opened, where it slipped slightly to $1,210.6. The ?LBMA Gold price? was set at $1,209.40 up $16.85 which was the euro equivalent of ?1,099.65 up ?14.08. Ahead of New York?s opening, gold was trading in London at $1,208 and in the euro at ?1,097.98.
  Gold market manipulation is 'too inflammatory' to be debated at Hong Kong conference Thu, 26 Mar 2015 19:05:56 -0700
Yesterday's concentration on gold at the spectacular Mines and Money Hong Kong conference may have inadvertently proved GATA's longstanding contention that gold market manipulation simply can't be discussed in polite company almost anywhere in the world.
  Southern Silver Pays Credit Facility; Appoints Directors Thu, 26 Mar 2015 15:55:15 -0700
Southern Silver Exploration Corp. reports that it has issued six million shares to Radius Gold Inc. to satisfy a conversion notice from Radius electing to receive the shares in satisfaction of $300,000 ...
  Helio (TSX-V:HRC) Increases Gold Grade of and Confidence in Mineral Resources at its SMP Gold Project, Tanzania Thu, 26 Mar 2015 11:00:00 -0700
Helio (TSX-V:HRC) Increases Gold Grade of and Confidence in Mineral Resources at its SMP Gold Project, Tanzania
  Commodities Corner: Gold?s relationship with the U.S. dollar is about to change Thu, 26 Mar 2015 05:23:32 -0700
As the gold market moves to the East from the West, the metal?s relationship with the U.S. dollar will shrink.
  Gold?s relationship with the U.S. dollar is about to change Thu, 26 Mar 2015 05:17:38 -0700
As the gold market moves to the East from the West, the metal?s relationship with the U.S. dollar will shrink.
  Things to Do, Thursday, March 26, 2015 Thu, 26 Mar 2015 04:17:53 -0700
What: Join the Southern Season cooking school staff for this "Go Green!" lunch class that will feature recipes with kale, fresh lettuce, beet tops and other hearty greens.
  Gold rally gathers steam; settles up $5.60 Wed, 25 Mar 2015 13:26:00 -0700
The gold price rallied on Wednesday after the latest data from the CFTC shows that gold shorts were at a four-month high just before the Fed meeting.
  Gold smashed my tramline ? its price should rise fast Wed, 25 Mar 2015 09:46:28 -0700
The gold price has shot up following the Federal Reserve meeting. John C Burford sets his next price target in the charts. The post Gold smashed my tramline ? its price should rise fast was first published on MoneyWeek .
  Excellon Reports 2014 Annual and Fourth Quarter Financial Results Wed, 25 Mar 2015 04:00:00 -0700
Excellon Resources Inc.   , Mexico's highest grade silver producer, reports financial results for the three- and twelve-month periods ended December 31, 2014. 2014 Financial Highlights Revenue of...
  Gold: The Tortoise Beats The Hare Tue, 24 Mar 2015 21:40:06 -0700
1. On March 20, 2015, global gold price discovery changed. Transparency was introduced to the London gold market, as the new ? LBMA Gold Price ? was launched.
  China?s Wealthy Are Banking on Extinction Tue, 24 Mar 2015 14:25:00 -0700
Right now, in warehouses scattered across China, the carcasses of hundreds of dead tigers sit steeping in vats in a mixture of rice wine and herbs. In weeks, months, or even years, the resulting tiger-bone wine will be packaged?often in bottles shaped like living tigers?and sold for between $80 and $300, according to reports from the Environmental Investigation Agency (EIA) and other ...
  Gold Markets May Finally Have Something To Cheer About Tue, 24 Mar 2015 09:00:24 -0700
Major developments taking place in two of the world?s two critical gold markets could finally give miners something to cheer about in the coming months
  Grape growers forced to weigh up options Mon, 23 Mar 2015 18:01:40 -0700
GROWERS will not be able to maintain vineyards and and produce high quality wine grapes unless a price recovery occurs.
  ICE Benchmark Administration Launches LBMA Gold Price; Transitions Gold Price to Transparent, Electronic Auction Process Mon, 23 Mar 2015 06:02:00 -0700
Intercontinental Exchange , the leading global network of exchanges and clearing houses, today announced that ICE Benchmark Administration successfully launched the LBMA Gold Price on Friday March 20, 2015, replacing the London Gold Fix established in 1919.
  How to use the Commitment of Traders Report? Wed, 19 Jun 2013 18:08:00 GMT
The Commitment of Traders report (COT report) is a weekly report, which is issued on every Friday by Commodity Futures Trading Commission (CFTC). This report contains the details of the positions of all the market participants. Every report that comes on Friday contains the data as of the preceding Tuesday.

The role of CFTC is to Commodities Future & Options market what SEC is to equity markets. The COT is a very handy, reliable and important report as it has good deal of data related to the market positions and trends of various trader groups. It is very useful in understanding the current and future market movements.

The structure of the COT report is detailed and it provides data segregated into different trader groups. The three main categories being: commercial traders, non-commercial traders and non-reportables.

Commercial Traders: They are the main players of the Commodity future markets. They are essentially hedgers and their trades are for actual delivery of the underlying asset. They have the largest positions in the markets and are big entities like Producers and users/consumers. They have the best knowledge of demand, supply & market movements etc. and enter into contracts as per their requirements and forecasts.

Non-commercial traders: They are also generally big traders but unlike the commercial traders, their positions are mostly for speculative profits. They enter a position with a view to make money and exit the position long before the due dates.

Non-reportables: This is the smallest group of traders and consists of individuals or other small entities that trade on speculative lines. Their holdings are individually too small to be required to report to CFTC and hence the name.

Over the years, CFTC has been providing the report with the aforesaid three categories of traders. But in the recent years, it has started providing disaggregated reports, further categorizing the traders. The picture below illustrates the disaggregated trader categories.

In the above classification, Swap dealers represent the Pension funds, endowments etc. These funds rather than directly trading in the future markets, work through the services of Swap dealers.

Basics of COT report

The COT report is a very valuable source of information, which can be used to get an idea of the future market movements and accordingly device a trading strategy. Let's take a sample COT report of Gold Futures dated 11th June and try to understand the basic data sets and their implications.

A gold future contract is of 100 Troy ounces and the above report is a part of the COT report on metals issued by CFTC on 14th of June, 2013. The report shows the category wise positions as on June 11th. In each category, the long and short positions represent the number of contracts held. The total open interest shows the sum of all contracts (both long & short), that have neither expired nor settled. From the above data, we can get the following perspectives about the current market conditions.

The total open interest is 373,844, which is marginally up by 783 from the previous week. This indicates a bit higher market participation. The benefit of an increased open interest is that a higher number of transactions take place increasing the liquidity. At the same time it also indicates better market conditions for trading and may be a sign of trend reversal.

The net position of Producers/Merchants category is still on the bearish side but compared to last week it shows increase of 3,251 in long contracts. Remember that this group has the best knowledge of the markets and they are bearish with slight movements towards bullish side of the fence. This movement towards long position may be short term or long term. Now if we look at the data of past few weeks, we will observe that there is a gradual increase in the long position of this group. The total extent of their short positions has been decreasing over the time. This may indicate a positive outlook for gold in the future.

The swap dealers reflect the same approach as far as the net position is considered.

Managed Money traders have a contrarian position. This may be due to the longer time frame that they generally target, eliminating the reflection of short-term market sentiments in their position.

Other reportable and the non-reportables are generally market followers. They are mostly in a position opposite to that of commercials. One thing that you should always avoid is to follow the trend of non-reportables.

The current COT report can further be compared to the past data and more inferences can be deduced. For example, if you compare the open interest with past data, you would see that it has been falling and has dropped quite low. Also this drop has somewhat stabilized over the past few weeks and it seems to be bottoming up. This indicates that a strong level of support for the gold prices may have been achieved and there are pretty good chances of a trend reversal.

Some takeaways

Now since you have some understanding of how to use COT report, you must keep the following points in mind while using it.

COT report comes with a time delay of 3 days. This is a dampening factor to the uses of the report in framing intraday and very short-term trade strategies.

The data content is excellent and reliable. This makes it a great source of getting market insights.

Further derivations of the COT report in the form index creation or indicators etc can further add to its utility.

Use other tools in combination with COT insights to validate your analysis.

COT report as such is of great value. No wonders why CFTC has to give in to the demands of weekly reports from the market participants, rather than the bi-monthly report that it used to provide in the past. That's all as of now. Happy trading!!!


  Gold and Silver Speculator Long Positions Wiped Out Fri, 26 Apr 2013 21:17:00 GMT
Small speculators, also known as individual investors, have had their net long positions in gold and silver completely wiped out over the last two weeks. As of last Tuesday, these small investors held a mere 133 net long gold contracts, and 2163 net long silver contracts. As recently as September, when we turned cautious on the metals, small speculators held over 60,000 net long gold contracts and 20,000 silver contracts. If the small speculators were to sell anymore gold and silver, they would become net short.

Typically commercial banks manipulate prices on low volume to set the price and then trade at the newly set price in volume. The recent crash in gold and silver began after hours on a Friday, and was hit further by large sell orders Sunday night to take out the well known technical support lines of both metals. Most small retails investors were probably not even contacted by their futures broker. By the time they checked their account the next Monday Morning, either their protective stop orders were triggered or the margin clerk forcefully closed their position. The snowball effect in margin calls and stop loss orders was great enough to last several days.

None of this is surprising. However, we were quite surprised to see that net short positions of commercial traders rose substantially during this period. Typically they would be expected to cover their short positions at lower prices, mopping up the losses of retail investors.

This reveals several important changes to the gold and silver markets:
1) It took an enormous number of short positions added to move the market even on a weekend.
2) The gambit failed, as they were not able to cover these positions in volume after the dump. Nevertheless, as we have been expecting for several years, the commercial traders will be net long before the metals make new highs. But if they can't cover at lower prices, they will begin covering at higher prices as we saw when silver rose from $20 fall 2010 to $50 in spring 2011.

We suspect that the failure of the gold gambit is largely due to the unexpected surge in GLOBAL demand for physical metal. Premiums on bullion products are higher than they were during the 2008 crash, with even junk silver selling at $5-$6 over the paper spot price. This is unprecedented.

The consolidation in gold and silver over the last two years has been painful, especially for mining investors. However, with the prices of the metals at or below production costs, along with shortages of retail bullion products, and zero net long small investors, we are struggling to identify any more sellers. The summer season is typically weak for precious metals, and they could easily back and fill a base over the next six months, however the risk in accumulating physical metals in this price range is very low. We also believe that producing miners with cash holdings represent substantial value at this time.
  Caution Advised in Gold and Silver Sun, 02 Sep 2012 02:35:00 GMT
Gold and especially silver have succumbed to a long a demoralizing correction over the last 12 to 18 months. The summer doldrums likely marked the bottom of this correction, and the metals have turn the corner higher. However, both gold and silver investors will likely have their resolve tested once again in the coming weeks before the metals are able to break higher.

Precious metals (GLD, SLV), and mining equities surged from their 2008 lows to their 2011 highs in reaction to massive monetary intervention, and an initial surge in inflationary expectations. Although interest rates have remained near zero, and real interest rates are clearly negative, precious metals investors have been disappointed by the ongoing global stagflationary wealth destruction, and the failure of further intervention by policy makers. The Federal Reserve has admitted that the US economy is weaker than desired, yet it has also continually disappointed in announcing a new quantitative easing as it seeks political justification.

The last two years of global policy makers kicking the can down the road, in conjunction with weaker demand from India, has created the environment for a severe correction in gold, silver, and miners. While it hasn't been the most severe in terms of percentage loss, it has likely been the most severe in terms of sentiment. With Europe, India, China, and the US all decelerating at a rapid pace, and the US fiscal cliff returning the political forefront, we believe that we are months away at the most from a turn in monetary policy. Verbal intervention has run its course, and real monetary intervention is a mathematical certainty.

Gold miners(GDX) bottomed in May, and are leading the metals. They are now overbought and could face a sharp correction before breaking out.

Gold and silver may already have begun pricing in future intervention, however commercial banks are not yet on board with the breakout in gold and silver. Net commercial short positions in both gold and silver, at a time when prices are near resistance levels and overbought are indicating that a short and severe correction could be imminent.

Silver has had an especially large spike in commercial short positions over the last three weeks.

The current commercial short positions in silver and gold must be reduced before the metals can break higher. In other words, commercial banks must cover the majority of their short positions. While they could cover as prices rise, history suggests that the most likely scenario is for the commercial banks to take down the price and cover at lower levels. This correction will likely coincide with the realization of a global recession/depression in 2013 and end with the realization of further monetary intervention.
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