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COT Metals Speculators dropped their Gold bullish bets for 4th straight week

COT Metals Speculators dropped their Gold bullish bets for 4th straight weekCOT Metals Speculators dropped their Gold bullish bets for 4th straight week
December 18, 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 December 14th 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 weakness in the Gold futures bets. The speculative net position in the Gold futures fell sharply this week and dropped for a fourth consecutive week. These declines have now shed a total of -57,379 contracts off the bullish position in just the past four weeks time-frame. This has brought the overall net bullish position for Gold futures to the lowest level of the past eight weeks.

All of the metals markets were cover fell this week with Gold (-14,784 contracts) leading the way and joined by Silver (-7,849 contracts), Copper (-507 contracts), Platinum (-2,331 contracts) and Palladium (-1,043 contracts).

Data Snapshot of Commodity Market Traders | Columns Legend
Dec-14-2021 OI OI-Index Spec-Net Spec-Index Com-Net COM-Index Smalls-Net Smalls-Index
WTI Crude 1,953,397 0 347,137 22 -385,527 67 38,390 69
Gold 503,709 20 202,401 52 -231,411 47 29,010 47
Silver 142,384 9 21,984 44 -35,855 64 13,871 21
Copper 171,976 6 6,697 47 -13,108 50 6,411 62
Palladium 10,098 16 -3,774 0 4,125 100 -351 24
Platinum 66,300 32 3,731 8 -9,661 95 5,930 45
Natural Gas 1,153,450 7 -130,226 39 99,238 62 30,988 57
Brent 217,274 53 -23,610 78 20,030 22 3,580 58
Heating Oil 304,130 3 4,723 49 -20,481 49 15,758 53
Soybeans 647,243 9 63,221 46 -27,165 59 -36,056 12
Corn 1,459,289 14 426,621 85 -381,897 18 -44,724 17
Coffee 260,063 29 60,308 92 -63,167 10 2,859 8
Sugar 874,996 12 216,463 81 -251,878 20 35,415 52
Wheat 361,469 14 11,965 57 -5,152 36 -6,813 69

 

Gold Comex Futures:

The Gold Comex Futures large speculator standing this week recorded a net position of 202,401 contracts in the data reported through Tuesday. This was a weekly decrease of -14,784 contracts from the previous week which had a total of 217,185 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 52.2 percent. The commercials are Bearish with a score of 47.0 percent and the small traders (not shown in chart) are Bearish with a score of 46.5 percent.

Gold Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 59.2 21.3 9.7
– Percent of Open Interest Shorts: 19.0 67.3 3.9
– Net Position: 202,401 -231,411 29,010
– Gross Longs: 298,142 107,421 48,697
– Gross Shorts: 95,741 338,832 19,687
– Long to Short Ratio: 3.1 to 1 0.3 to 1 2.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 52.2 47.0 46.5
– Strength Index Reading (3 Year Range): Bullish Bearish Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -4.0 2.6 12.1

 

Silver Comex Futures:

The Silver Comex Futures large speculator standing this week recorded a net position of 21,984 contracts in the data reported through Tuesday. This was a weekly fall of -7,849 contracts from the previous week which had a total of 29,833 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 44.3 percent. The commercials are Bullish with a score of 63.7 percent and the small traders (not shown in chart) are Bearish with a score of 20.8 percent.

Silver Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 44.7 30.5 18.8
– Percent of Open Interest Shorts: 29.3 55.7 9.1
– Net Position: 21,984 -35,855 13,871
– Gross Longs: 63,669 43,477 26,796
– Gross Shorts: 41,685 79,332 12,925
– Long to Short Ratio: 1.5 to 1 0.5 to 1 2.1 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 44.3 63.7 20.8
– Strength Index Reading (3 Year Range): Bearish Bullish Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -11.1 12.8 -11.3

 

Copper Grade #1 Futures:

The Copper Grade #1 Futures large speculator standing this week recorded a net position of 6,697 contracts in the data reported through Tuesday. This was a weekly lowering of -507 contracts from the previous week which had a total of 7,204 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 47.2 percent. The commercials are Bullish with a score of 50.4 percent and the small traders (not shown in chart) are Bullish with a score of 62.4 percent.

Copper Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 36.6 43.9 10.1
– Percent of Open Interest Shorts: 32.7 51.6 6.4
– Net Position: 6,697 -13,108 6,411
– Gross Longs: 62,990 75,561 17,403
– Gross Shorts: 56,293 88,669 10,992
– Long to Short Ratio: 1.1 to 1 0.9 to 1 1.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 47.2 50.4 62.4
– Strength Index Reading (3 Year Range): Bearish Bullish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -18.5 19.4 -14.7

 

Platinum Futures:

The Platinum Futures large speculator standing this week recorded a net position of 3,731 contracts in the data reported through Tuesday. This was a weekly lowering of -2,331 contracts from the previous week which had a total of 6,062 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 7.7 percent. The commercials are Bullish-Extreme with a score of 95.3 percent and the small traders (not shown in chart) are Bearish with a score of 44.7 percent.

Platinum Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 42.0 38.7 14.8
– Percent of Open Interest Shorts: 36.4 53.3 5.8
– Net Position: 3,731 -9,661 5,930
– Gross Longs: 27,853 25,655 9,781
– Gross Shorts: 24,122 35,316 3,851
– Long to Short Ratio: 1.2 to 1 0.7 to 1 2.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 7.7 95.3 44.7
– Strength Index Reading (3 Year Range): Bearish-Extreme Bullish-Extreme Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -16.8 17.6 -9.4

 

Palladium Futures:

The Palladium Futures large speculator standing this week recorded a net position of -3,774 contracts in the data reported through Tuesday. This was a weekly reduction of -1,043 contracts from the previous week which had a total of -2,731 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 0.0 percent. The commercials are Bullish-Extreme with a score of 100.0 percent and the small traders (not shown in chart) are Bearish with a score of 24.0 percent.

Palladium Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 26.1 59.2 12.4
– Percent of Open Interest Shorts: 63.5 18.3 15.9
– Net Position: -3,774 4,125 -351
– Gross Longs: 2,637 5,973 1,256
– Gross Shorts: 6,411 1,848 1,607
– Long to Short Ratio: 0.4 to 1 3.2 to 1 0.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 0.0 100.0 24.0
– Strength Index Reading (3 Year Range): Bearish-Extreme Bullish-Extreme Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -2.1 2.9 -9.9

 

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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