Silver COT Report 4/6/12

After several consecutive weeks of covering their shorts as silver rallied, the Commercials increased their silver futures shorts again in the week ending Tuesday 4/3/12, up a net 1,658 contracts (8.29 million ounces) to 31,336 net shorts (156,680,000 net ounces short). 
This comes on the heels of last week when the commercials covered 2,448 shorts, meaning the commercials' position is roughly back to levels seen in mid-March.
This is essentially SOP in fleecing the speculators.  As the commercials were most assuredly buying into the artificial post-fed minutes release smash, expect the net short position to have been reduced in the latter half of the week.  We'll know for sure next Friday, but as their tricks never change, you can count on the fact that they were buying into the $2 price sale in silver.

SILVER COT REPORT 4/6/12