15 Nov

COT Speculators push their Gold bullish bets to 39-Week high

November 15, 2021

By InvestMacro | COT | Data Tables | COT Leaders | Downloads | COT 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 November 9th 2021 and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets. This week’s reports are delayed due to last week’s Veteran’s Day holiday.

Highlighting this week’s COT data for the metals category is the gains in speculative bets for gold. Speculator positions jumped by over +35,000 net contracts on November 9th and marked the largest one-week increase of the past ninety weeks, dating back to February 2nd of 2020. Speculators have continued pushing their bullishness in the yellow shiny metal as bullish bets have now climbed higher for six consecutive weeks and the gold net positions have increased by a total of +81,782 contracts over that time-frame. The speculator gold standing is currently at the highest level of the past thirty-nine weeks, dating back to February 9th of this year.

Data Snapshot of Commodity Market Traders | Columns Legend
Nov-09-2021OIOI-IndexSpec-NetSpec-IndexCom-NetCOM-IndexSmalls-NetSmalls-Index
WTI Crude2,081,38522421,31246-461,9644440,65272
Gold571,02543250,18171-275,4893025,30842
Silver144,3701136,91559-53,6694616,75438
Copper213,3653622,78959-33,1943710,40585
Palladium11,81924-2,95423,00397-4942
Platinum57,8661817,63028-24,263746,63355
Natural Gas1,305,68745-142,1913698,4186243,77390
Brent192,39833-11,8511007,56704,28482
Heating Oil421,2996120,02272-42,9212622,89978
Soybeans644,317927,584379,08568-36,66911
Corn1,540,73128375,29878-320,87726-54,42112
Coffee312,1436760,82093-65,36594,54520
Sugar897,73922212,03180-260,7611948,73068
Wheat405,4383719,20363-13,40928-5,79474

 

Gold Comex Futures:

Federal Funds 30-Day Bonds Futures COT ChartThe Gold Comex Futures large speculator standing this week reached a net position of 250,181 contracts in the data reported through Tuesday. This was a weekly advance of 35,052 contracts from the previous week which had a total of 215,129 net contracts.

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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 70.6 percent. The commercials are Bearish with a score of 29.8 percent and the small traders (not shown in chart) are Bearish with a score of 41.6 percent.

Gold Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:59.718.48.8
– Percent of Open Interest Shorts:15.966.74.3
– Net Position:250,181-275,48925,308
– Gross Longs:341,111105,19750,094
– Gross Shorts:90,930380,68624,786
– Long to Short Ratio:3.8 to 10.3 to 12.0 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct):70.629.841.6
– COT Index Reading (3 Year Range):BullishBearishBearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:23.2-23.19.2

 

Silver Comex Futures:

2-Year Treasury Bonds Futures COT ChartThe Silver Comex Futures large speculator standing this week reached a net position of 36,915 contracts in the data reported through Tuesday. This was a weekly rise of 3,800 contracts from the previous week which had a total of 33,115 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 59.2 percent. The commercials are Bearish with a score of 46.2 percent and the small traders (not shown in chart) are Bearish with a score of 38.2 percent.

Silver Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:45.030.319.7
– Percent of Open Interest Shorts:19.567.58.1
– Net Position:36,915-53,66916,754
– Gross Longs:65,01343,81128,432
– Gross Shorts:28,09897,48011,678
– Long to Short Ratio:2.3 to 10.4 to 12.4 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct):59.246.238.2
– COT Index Reading (3 Year Range):BullishBearishBearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:20.2-24.629.0

 

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 22,789 contracts in the data reported through Tuesday. This was a weekly decline of -9,546 contracts from the previous week which had a total of 32,335 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 58.8 percent. The commercials are Bearish with a score of 36.6 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 85.5 percent.

Copper Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:38.838.610.0
– Percent of Open Interest Shorts:28.154.25.1
– Net Position:22,789-33,19410,405
– Gross Longs:82,78182,41321,232
– Gross Shorts:59,992115,60710,827
– Long to Short Ratio:1.4 to 10.7 to 12.0 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct):58.836.685.5
– COT Index Reading (3 Year Range):BullishBearishBullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:3.0-7.942.0

 

Platinum Futures:

10-Year Treasury Notes Bonds Futures COT ChartThe Platinum Futures large speculator standing this week reached a net position of 17,630 contracts in the data reported through Tuesday. This was a weekly rise of 2,266 contracts from the previous week which had a total of 15,364 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 27.8 percent. The commercials are Bullish with a score of 74.3 percent and the small traders (not shown in chart) are Bullish with a score of 54.6 percent.

Platinum Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:52.328.015.9
– Percent of Open Interest Shorts:21.869.94.5
– Net Position:17,630-24,2636,633
– Gross Longs:30,26016,2029,224
– Gross Shorts:12,63040,4652,591
– Long to Short Ratio:2.4 to 10.4 to 13.6 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct):27.874.354.6
– COT Index Reading (3 Year Range):BearishBullishBullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:17.3-20.229.4

 

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 lift of 437 contracts from the previous week which had a total of -3,391 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 2.4 percent. The commercials are Bullish-Extreme with a score of 96.8 percent and the small traders (not shown in chart) are Bearish with a score of 41.8 percent.

Palladium Futures StatisticsSPECULATORSCOMMERCIALSSMALL TRADERS
– Percent of Open Interest Longs:22.950.412.1
– Percent of Open Interest Shorts:47.825.012.5
– Net Position:-2,9543,003-49
– Gross Longs:2,7015,9611,425
– Gross Shorts:5,6552,9581,474
– Long to Short Ratio:0.5 to 12.0 to 11.0 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct):2.496.841.8
– COT Index Reading (3 Year Range):Bearish-ExtremeBullish-ExtremeBearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index:1.6-3.218.6

 

Article By InvestMacro – Receive our weekly COT Reports by Email

*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) as well as their open interest (contracts open in the market at time of reporting).See CFTC criteria here.


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