CHART: A new sign of a bottom in precious metals

From Justin Brill, editor, Stansberry Digest:

Sentiment is showing new signs of a bottom in precious metals.

As you can see in the following chart, speculators continue to flee from silver

Net speculative positions have fallen from an all-time record of more than 100,000 contracts this spring to less than 30,000 contracts today. And they’re quickly closing in on levels that have marked important bottoms in the past.

Speculative positions in gold – which didn’t surpass last year’s record this year – have experienced a similar decline.

Again, this doesn’t mean the next rally is imminent… But it suggests we’re finally close to a significant bottom in gold and silver.

Stay patient… Your next great buying opportunity is approaching.

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