Silver Speculator Bets rise 5th time in 6 weeks to most bullish point since June

November 20, 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 16th 2021 and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.

Highlighting the COT Metals data this week is the recent increase in Silver speculator positions. Bullish bets by speculators in favor of Silver rose this week for a second straight week and have now climbed for five out of the past six weeks (adding a total of 29,246 contracts to the net standing). This bullishness has pushed the overall speculative net position in Silver over the +45,000 net contract threshold and to its highest level of the past twenty-two weeks, dating back to June 15th when the net position totaled 52,064 contracts.


Data Snapshot of Commodity Market Traders | Columns Legend
Nov-16-2021 OI OI-Index Spec-Net Spec-Index Com-Net COM-Index Smalls-Net Smalls-Index
WTI Crude 2,057,633 18 415,785 44 -470,324 41 54,539 92
Gold 612,612 54 259,780 73 -287,539 27 27,759 48
Silver 152,404 18 45,625 68 -66,148 34 20,523 61
Copper 208,066 32 20,337 57 -30,805 38 10,468 86
Palladium 11,840 24 -2,038 7 1,976 91 62 48
Platinum 62,284 26 21,013 33 -28,225 69 7,212 63
Natural Gas 1,308,708 45 -144,620 35 98,415 62 46,205 96
Brent 199,930 39 -12,900 98 7,412 0 5,488 94
Heating Oil 380,887 26 17,029 67 -37,010 32 19,981 68
Soybeans 662,972 13 46,917 42 -4,927 65 -41,990 2
Corn 1,598,926 38 399,186 81 -340,672 23 -58,514 9
Coffee 286,343 48 66,081 97 -70,075 5 3,994 16
Sugar 906,385 21 227,389 83 -276,185 16 48,796 68
Wheat 427,786 49 36,761 78 -27,999 14 -8,762 60

 


Gold Comex Futures:

The Gold Comex Futures large speculator standing this week recorded a net position of 259,780 contracts in the data reported through Tuesday. This was a weekly boost of 9,599 contracts from the previous week which had a total of 250,181 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 73.3 percent. The commercials are Bearish with a score of 26.5 percent and the small traders (not shown in chart) are Bearish with a score of 48.0 percent.

Gold Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 58.9 20.5 8.5
– Percent of Open Interest Shorts: 16.4 67.5 4.0
– Net Position: 259,780 -287,539 27,759
– Gross Longs: 360,529 125,758 52,054
– Gross Shorts: 100,749 413,297 24,295
– Long to Short Ratio: 3.6 to 1 0.3 to 1 2.1 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 73.3 26.5 48.0
– COT Index Reading (3 Year Range): Bullish Bearish Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 21.9 -22.7 17.2

 


Silver Comex Futures:

The Silver Comex Futures large speculator standing this week recorded a net position of 45,625 contracts in the data reported through Tuesday. This was a weekly rise of 8,710 contracts from the previous week which had a total of 36,915 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 67.8 percent. The commercials are Bearish with a score of 34.0 percent and the small traders (not shown in chart) are Bullish with a score of 61.0 percent.

Silver Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 48.5 26.9 20.7
– Percent of Open Interest Shorts: 18.6 70.3 7.3
– Net Position: 45,625 -66,148 20,523
– Gross Longs: 73,944 40,998 31,619
– Gross Shorts: 28,319 107,146 11,096
– Long to Short Ratio: 2.6 to 1 0.4 to 1 2.8 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 67.8 34.0 61.0
– COT Index Reading (3 Year Range): Bullish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 29.2 -37.7 55.1

 


Copper Grade #1 Futures:

The Copper Grade #1 Futures large speculator standing this week recorded a net position of 20,337 contracts in the data reported through Tuesday. This was a weekly lowering of -2,452 contracts from the previous week which had a total of 22,789 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 57.0 percent. The commercials are Bearish with a score of 38.3 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 85.8 percent.

Copper Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 39.2 38.4 10.3
– Percent of Open Interest Shorts: 29.4 53.2 5.3
– Net Position: 20,337 -30,805 10,468
– Gross Longs: 81,599 79,856 21,469
– Gross Shorts: 61,262 110,661 11,001
– Long to Short Ratio: 1.3 to 1 0.7 to 1 2.0 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 57.0 38.3 85.8
– COT Index Reading (3 Year Range): Bullish Bearish Bullish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 4.3 -8.2 34.5

 


Platinum Futures:

The Platinum Futures large speculator standing this week recorded a net position of 21,013 contracts in the data reported through Tuesday. This was a weekly boost of 3,383 contracts from the previous week which had a total of 17,630 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 32.7 percent. The commercials are Bullish with a score of 68.7 percent and the small traders (not shown in chart) are Bullish with a score of 62.7 percent.

Platinum Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 53.4 25.1 15.5
– Percent of Open Interest Shorts: 19.7 70.5 3.9
– Net Position: 21,013 -28,225 7,212
– Gross Longs: 33,266 15,658 9,668
– Gross Shorts: 12,253 43,883 2,456
– Long to Short Ratio: 2.7 to 1 0.4 to 1 3.9 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 32.7 68.7 62.7
– COT Index Reading (3 Year Range): Bearish Bullish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 22.4 -25.5 32.5

 


Palladium Futures:

The Palladium Futures large speculator standing this week recorded a net position of -2,038 contracts in the data reported through Tuesday. This was a weekly rise of 916 contracts from the previous week which had a total of -2,954 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 7.4 percent. The commercials are Bullish-Extreme with a score of 91.3 percent and the small traders (not shown in chart) are Bearish with a score of 48.3 percent.

Palladium Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 26.3 47.8 11.8
– Percent of Open Interest Shorts: 43.5 31.1 11.3
– Net Position: -2,038 1,976 62
– Gross Longs: 3,108 5,656 1,400
– Gross Shorts: 5,146 3,680 1,338
– Long to Short Ratio: 0.6 to 1 1.5 to 1 1.0 to 1
NET POSITION TREND:
– COT Index Score (3 Year Range Pct): 7.4 91.3 48.3
– COT Index Reading (3 Year Range): Bearish-Extreme Bullish-Extreme Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 6.5 -8.1 20.1

 


Article By InvestMacroReceive 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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