The bullion banks generally take the short side of these contracts, and speculators take the long side. The shorts are now profiting handsomely from these somewhat lower prices................ The good news for gold and silver bulls is that a large number of these contracts have already been closed out, meaning the correction – which has knocked gold and silver prices down 7% and 10% from their recent highs – could be closer to its end than its beginning. https://www.moneymetals.com/news/2016/05/31/bull-market-correction-ending-000873