COT Metals Charts: Gold Speculator bullish bets jump to 8-Week High

October 30, 2021

By InvestMacro.com COT Home | Data Tables | Data Downloads | Newsletter

Here are the latest charts and statistics for the Commitment of Traders (COT) data published by the Commodities Futures Trading Commission (CFTC).

The latest COT data is updated through Tuesday October 26th 2021 and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.

Highlighting this week’s COT metals data is the speculator’s bullishness in gold. The gold speculative position jumped by over +21,000 contracts this week which marked the biggest one-week jump of the past ten weeks. This brought the overall bullish position back above the +200,000 net contract level for the first time in six weeks and to the second highest bullish standing since May 25th. Gold positions have now been in a continuous bullish position all the way back to November 13th of 2018 when positions dipped to a total of -9,247 contracts.


Data Snapshot of Commodity Market Traders | Columns Legend
Oct-26-2021 OI OI-Index Spec-Net Spec-Index Com-Net COM-Index Smalls-Net Smalls-Index
WTI Crude 2,144,359 33 423,718 47 -472,412 41 48,694 84
Gold 509,794 28 214,560 62 -239,654 38 25,094 41
Silver 141,581 8 37,532 60 -51,504 48 13,972 21
Copper 222,927 43 37,279 69 -45,870 28 8,591 75
Palladium 10,205 17 -2,954 2 2,962 97 -8 44
Platinum 58,161 19 14,902 24 -21,280 79 6,378 51
Natural Gas 1,295,271 42 -138,188 37 96,361 61 41,827 85
Brent 200,768 40 -17,810 98 12,648 1 5,162 81
Heating Oil 423,143 63 25,791 80 -49,635 18 23,844 81
Soybeans 658,960 12 43,230 41 -10,177 63 -33,053 17
Corn 1,438,930 11 307,810 69 -252,059 36 -55,751 11
Coffee 307,195 64 67,593 98 -71,916 3 4,323 18
Sugar 874,742 21 198,607 77 -244,341 22 45,734 64
Wheat 405,625 33 763 48 8,753 49 -9,516 56

 


Gold Comex Futures:

Federal Funds 30-Day Bonds Futures COT ChartThe Gold Comex Futures large speculator standing this week reached a net position of 214,560 contracts in the data reported through Tuesday. This was a weekly gain of 21,211 contracts from the previous week which had a total of 193,349 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 61.7 percent. The commercials are Bearish with a score of 38.0 percent and the small traders (not shown in chart) are Bearish with a score of 41.1 percent.


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Gold Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 61.5 20.3 9.4
– Percent of Open Interest Shorts: 19.4 67.3 4.4
– Net Position: 214,560 -239,654 25,094
– Gross Longs: 313,646 103,423 47,707
– Gross Shorts: 99,086 343,077 22,613
– Long to Short Ratio: 3.2 to 1 0.3 to 1 2.1 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 61.7 38.0 41.1
– COT Index Reading (3 Year Range): Bullish Bearish Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 1.9 -1.4 -3.6

 


Silver Comex Futures:

2-Year Treasury Bonds Futures COT ChartThe Silver Comex Futures large speculator standing this week reached a net position of 37,532 contracts in the data reported through Tuesday. This was a weekly lift of 7,176 contracts from the previous week which had a total of 30,356 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 59.8 percent. The commercials are Bearish with a score of 48.4 percent and the small traders (not shown in chart) are Bearish with a score of 21.4 percent.

Silver Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 47.1 27.8 18.6
– Percent of Open Interest Shorts: 20.6 64.1 8.8
– Net Position: 37,532 -51,504 13,972
– Gross Longs: 66,677 39,289 26,376
– Gross Shorts: 29,145 90,793 12,404
– Long to Short Ratio: 2.3 to 1 0.4 to 1 2.1 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 59.8 48.4 21.4
– COT Index Reading (3 Year Range): Bullish Bearish Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 10.8 -11.1 3.0

 


Copper Grade #1 Futures:

5-Year Treasury Bonds Futures COT ChartThe Copper Grade #1 Futures large speculator standing this week reached a net position of 37,279 contracts in the data reported through Tuesday. This was a weekly decline of -3,305 contracts from the previous week which had a total of 40,584 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 69.2 percent. The commercials are Bearish with a score of 27.9 percent and the small traders (not shown in chart) are Bullish with a score of 75.0 percent.

Copper Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 44.1 36.0 9.0
– Percent of Open Interest Shorts: 27.3 56.5 5.1
– Net Position: 37,279 -45,870 8,591
– Gross Longs: 98,232 80,168 20,017
– Gross Shorts: 60,953 126,038 11,426
– Long to Short Ratio: 1.6 to 1 0.6 to 1 1.8 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 69.2 27.9 75.0
– COT Index Reading (3 Year Range): Bullish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 6.1 -6.7 7.3

 


Platinum Futures:

10-Year Treasury Notes Bonds Futures COT ChartThe Platinum Futures large speculator standing this week reached a net position of 14,902 contracts in the data reported through Tuesday. This was a weekly increase of 58 contracts from the previous week which had a total of 14,844 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 23.9 percent. The commercials are Bullish with a score of 78.6 percent and the small traders (not shown in chart) are Bullish with a score of 51.0 percent.

Platinum Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 50.6 29.7 15.8
– Percent of Open Interest Shorts: 25.0 66.3 4.8
– Net Position: 14,902 -21,280 6,378
– Gross Longs: 29,445 17,265 9,174
– Gross Shorts: 14,543 38,545 2,796
– Long to Short Ratio: 2.0 to 1 0.4 to 1 3.3 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 23.9 78.6 51.0
– COT Index Reading (3 Year Range): Bearish Bullish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 23.1 -21.4 -14.5

 


Palladium Futures:

Ultra 10-Year Treasury Notes Bonds Futures COT ChartThe Palladium Futures large speculator standing this week reached a net position of -2,954 contracts in the data reported through Tuesday. This was a weekly reduction of -538 contracts from the previous week which had a total of -2,416 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish-Extreme with a score of 1.6 percent. The commercials are Bullish-Extreme with a score of 96.6 percent and the small traders (not shown in chart) are Bearish with a score of 44.2 percent.

Palladium Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 26.4 51.8 14.1
– Percent of Open Interest Shorts: 55.3 22.8 14.2
– Net Position: -2,954 2,962 -8
– Gross Longs: 2,691 5,285 1,437
– Gross Shorts: 5,645 2,323 1,445
– Long to Short Ratio: 0.5 to 1 2.3 to 1 1.0 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 1.6 96.6 44.2
– COT Index Reading (3 Year Range): Bearish-Extreme Bullish-Extreme Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -6.7 4.8 19.1

 


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*COT Report: The COT data, released weekly to the public each Friday, is updated through the most recent Tuesday (data is 3 days old) and shows a quick view of how large speculators or non-commercials (for-profit traders) were positioned in the futures markets.

The CFTC categorizes trader positions according to commercial hedgers (traders who use futures contracts for hedging as part of the business), non-commercials (large traders who speculate to realize trading profits) and nonreportable traders (usually small traders/speculators).

Find CFTC criteria here: (http://www.cftc.gov/MarketReports/CommitmentsofTraders/ExplanatoryNotes/index.htm).