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 January 4th 2022 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 is the recent gains in the Copper futures bets. Speculators have boosted their bullish bets for the second week in a row following nine straight weeks of declines previously through December 21st. The rise in the bullish bets has brought the current standing to the best level since November 16th and has prolonged the streak of weeks in bullish territory to eighty-three, dating back to June of 2020 when bets flipped from bearish to bullish.
Joining Copper (5,376 contracts) with rising speculator bets this week were Silver (4,461 contracts) and Platinum (2,293 contracts) while speculator bets fell for Gold (-1,801 contracts) and Palladium (-83 contracts).
| Jan-04-2022 | OI | OI-Index | Spec-Net | Spec-Index | Com-Net | COM-Index | Smalls-Net | Smalls-Index |
|---|---|---|---|---|---|---|---|---|
| WTI Crude | 1,887,131 | 3 | 332,825 | 15 | -369,956 | 77 | 37,131 | 67 |
| Gold | 502,717 | 20 | 211,355 | 55 | -237,458 | 45 | 26,103 | 38 |
| Silver | 139,521 | 6 | 30,919 | 53 | -43,973 | 56 | 13,054 | 16 |
| Copper | 185,905 | 16 | 19,759 | 57 | -24,845 | 42 | 5,086 | 55 |
| Palladium | 9,480 | 13 | -3,192 | 3 | 3,344 | 96 | -152 | 36 |
| Platinum | 58,275 | 19 | 6,762 | 12 | -12,185 | 92 | 5,423 | 38 |
| Natural Gas | 1,117,606 | 2 | -141,907 | 36 | 110,122 | 66 | 31,785 | 59 |
| Brent | 203,528 | 42 | -11,255 | 100 | 6,990 | 0 | 4,265 | 67 |
| Heating Oil | 320,686 | 14 | 7,492 | 53 | -29,819 | 40 | 22,327 | 76 |
| Soybeans | 648,148 | 10 | 130,556 | 63 | -91,893 | 44 | -38,663 | 8 |
| Corn | 1,520,233 | 24 | 445,481 | 87 | -382,800 | 17 | -62,681 | 7 |
| Coffee | 262,231 | 31 | 54,565 | 88 | -57,751 | 15 | 3,186 | 10 |
| Sugar | 873,918 | 11 | 172,987 | 72 | -192,794 | 32 | 19,807 | 32 |
| Wheat | 359,139 | 12 | 4,080 | 50 | 6,236 | 47 | -10,316 | 52 |
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Gold Comex Futures:
The Gold Comex Futures large speculator standing this week reached a net position of 211,355 contracts in the data reported through Tuesday. This was a weekly fall of -1,801 contracts from the previous week which had a total of 213,156 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 55.0 percent. The commercials are Bearish with a score of 45.1 percent and the small traders (not shown in chart) are Bearish with a score of 38.2 percent.
| Gold Futures Statistics | SPECULATORS | COMMERCIALS | SMALL TRADERS |
| – Percent of Open Interest Longs: | 59.0 | 20.7 | 9.0 |
| – Percent of Open Interest Shorts: | 17.0 | 68.0 | 3.8 |
| – Net Position: | 211,355 | -237,458 | 26,103 |
| – Gross Longs: | 296,583 | 104,258 | 45,400 |
| – Gross Shorts: | 85,228 | 341,716 | 19,297 |
| – Long to Short Ratio: | 3.5 to 1 | 0.3 to 1 | 2.4 to 1 |
| NET POSITION TREND: | |||
| – Strength Index Score (3 Year Range Pct): | 55.0 | 45.1 | 38.2 |
| – Strength Index Reading (3 Year Range): | Bullish | Bearish | Bearish |
| NET POSITION MOVEMENT INDEX: | |||
| – 6-Week Change in Strength Index: | -7.3 | 9.3 | -20.8 |
Silver Comex Futures:
The Silver Comex Futures large speculator standing this week reached a net position of 30,919 contracts in the data reported through Tuesday. This was a weekly advance of 4,461 contracts from the previous week which had a total of 26,458 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 53.2 percent. The commercials are Bullish with a score of 55.8 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 15.9 percent.
| Silver Futures Statistics | SPECULATORS | COMMERCIALS | SMALL TRADERS |
| – Percent of Open Interest Longs: | 46.7 | 28.6 | 18.2 |
| – Percent of Open Interest Shorts: | 24.5 | 60.1 | 8.8 |
| – Net Position: | 30,919 | -43,973 | 13,054 |
| – Gross Longs: | 65,108 | 39,892 | 25,396 |
| – Gross Shorts: | 34,189 | 83,865 | 12,342 |
| – Long to Short Ratio: | 1.9 to 1 | 0.5 to 1 | 2.1 to 1 |
| NET POSITION TREND: | |||
| – Strength Index Score (3 Year Range Pct): | 53.2 | 55.8 | 15.9 |
| – Strength Index Reading (3 Year Range): | Bullish | Bullish | Bearish-Extreme |
| NET POSITION MOVEMENT INDEX: | |||
| – 6-Week Change in Strength Index: | -9.2 | 12.8 | -23.2 |
Copper Grade #1 Futures:
The Copper Grade #1 Futures large speculator standing this week reached a net position of 19,759 contracts in the data reported through Tuesday. This was a weekly rise of 5,376 contracts from the previous week which had a total of 14,383 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 56.6 percent. The commercials are Bearish with a score of 42.4 percent and the small traders (not shown in chart) are Bullish with a score of 54.7 percent.
| Copper Futures Statistics | SPECULATORS | COMMERCIALS | SMALL TRADERS |
| – Percent of Open Interest Longs: | 40.5 | 40.0 | 9.2 |
| – Percent of Open Interest Shorts: | 29.8 | 53.4 | 6.4 |
| – Net Position: | 19,759 | -24,845 | 5,086 |
| – Gross Longs: | 75,207 | 74,398 | 17,048 |
| – Gross Shorts: | 55,448 | 99,243 | 11,962 |
| – Long to Short Ratio: | 1.4 to 1 | 0.7 to 1 | 1.4 to 1 |
| NET POSITION TREND: | |||
| – Strength Index Score (3 Year Range Pct): | 56.6 | 42.4 | 54.7 |
| – Strength Index Reading (3 Year Range): | Bullish | Bearish | Bullish |
| NET POSITION MOVEMENT INDEX: | |||
| – 6-Week Change in Strength Index: | 4.3 | -2.7 | -12.3 |
Platinum Futures:
The Platinum Futures large speculator standing this week reached a net position of 6,762 contracts in the data reported through Tuesday. This was a weekly boost of 2,293 contracts from the previous week which had a total of 4,469 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 12.1 percent. The commercials are Bullish-Extreme with a score of 91.6 percent and the small traders (not shown in chart) are Bearish with a score of 37.6 percent.
| Platinum Futures Statistics | SPECULATORS | COMMERCIALS | SMALL TRADERS |
| – Percent of Open Interest Longs: | 47.5 | 33.8 | 15.0 |
| – Percent of Open Interest Shorts: | 35.9 | 54.7 | 5.7 |
| – Net Position: | 6,762 | -12,185 | 5,423 |
| – Gross Longs: | 27,680 | 19,716 | 8,738 |
| – Gross Shorts: | 20,918 | 31,901 | 3,315 |
| – Long to Short Ratio: | 1.3 to 1 | 0.6 to 1 | 2.6 to 1 |
| NET POSITION TREND: | |||
| – Strength Index Score (3 Year Range Pct): | 12.1 | 91.6 | 37.6 |
| – Strength Index Reading (3 Year Range): | Bearish-Extreme | Bullish-Extreme | Bearish |
| NET POSITION MOVEMENT INDEX: | |||
| – 6-Week Change in Strength Index: | -9.2 | 11.6 | -24.0 |
Palladium Futures:
The Palladium Futures large speculator standing this week reached a net position of -3,192 contracts in the data reported through Tuesday. This was a weekly decline of -83 contracts from the previous week which had a total of -3,109 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 3.1 percent. The commercials are Bullish-Extreme with a score of 95.9 percent and the small traders (not shown in chart) are Bearish with a score of 35.7 percent.
| Palladium Futures Statistics | SPECULATORS | COMMERCIALS | SMALL TRADERS |
| – Percent of Open Interest Longs: | 28.6 | 57.8 | 12.6 |
| – Percent of Open Interest Shorts: | 62.3 | 22.5 | 14.2 |
| – Net Position: | -3,192 | 3,344 | -152 |
| – Gross Longs: | 2,711 | 5,479 | 1,198 |
| – Gross Shorts: | 5,903 | 2,135 | 1,350 |
| – Long to Short Ratio: | 0.5 to 1 | 2.6 to 1 | 0.9 to 1 |
| NET POSITION TREND: | |||
| – Strength Index Score (3 Year Range Pct): | 3.1 | 95.9 | 35.7 |
| – Strength Index Reading (3 Year Range): | Bearish-Extreme | Bullish-Extreme | Bearish |
| NET POSITION MOVEMENT INDEX: | |||
| – 6-Week Change in Strength Index: | -7.7 | 7.5 | -0.3 |
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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