- Most recent COT report shows massive 405,000 ounce speculative short build in platinum over the past week.
- This is extremely large and makes up almost one month of worldwide platinum production.
- Palladium speculative shorts doubled their own positions.
- Historically such a large short position has led to large price reversals and we could see the same in PGMs.
- While we are long-term platinum buyers, we could see a short spike in price with no news or even a small nugget of good PGM news.
For further details see:
Platinum And Palladium Shorting Grows To Extremes