I thought this was interesting in light of the wb posts mentioning pain for JPM if silver stays above $36:
It's been a while since gold's Commercial net short position has been this low...and I'd guess that there's not much room left to the downside in gold. There's a bit of room to the downside in silver, as I've seen much lower Commercial net short positions that this, but JPMorgan et al would have to engineer a new low silver price for this move down [which would be well below $37 spot] to get more serious long liquidation. I wish them luck.
I am probably wrong, but I'd be glad if someone can enlighten me:
Doesn't the fact that the net short position of Commercial is at the lowest mean that they have precisely the opportunity to increase that net short position hugely up to all-time record highs?