GOLD 0.51% $1,391.7 gold futures

tocom short covering

  1. 3,360 Posts.
    The 7 ex-largest gold shorts are now short only 2,483 contracts, down from well above 200,000 odd 30 months ago

    TOCOM

    Ladies and Gentlemen:
    During the November 10th sessions the seven once big gold shorts reduced their net short position by 1,069 contracts to 2,483 contracts.

    STDJ trimmed their gold net short position by 74 contracts to 6,232 contracts.

    http://www.tocom.or.jp/souba/gold/torikumi.html

    In silver they added 45 contracts to their net long position bringing it to 338 contracts (60kg deliverable equivalent).

    http://www.tocom.or.jp/souba/silver/torikumi.html

    Goodnight,
    Scott

    Bill,
    In the November 10 session on the TOCOM Goldman Sachs COVERED 32 shorts contracts and ADDED 493 long contracts which brings their long position to 1,980 contracts and makes them net short only 100 contracts. This is quite a panic by GS because the gold price exploded in ACCESS trading and so GS added this many long contracts while the price was rapidly rising. At only 100 contracts net short GS is coming close to being net long again. The way their stock price is sinking they will need to get net long pretty soon.
    Cheers
    Adrian
 
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