Silver traders are moving to the long side, according to the latest COTS report. Long silver futures contracts rose by 7,352 contracts, according to last Tuesday’s report, indicating traders are looking for increasing silver prices going forward.
Lots of reasons someone might want to go long silver now – seasonality, high gold-silver ratio, holiday spirits run amok – and only time will tell how it plays out. Meanwhile, Goldman has released its latest prognostication, this time for silver price highs during 2020. From here it looks like a pretty conservative prediction if one has to make a prediction of course. All the details are in today’s featured article.
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