By InvestMacro
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 14th and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.
The COT metals markets speculator bets were decisively higher this week as five out of the six metals markets we cover had higher positioning while only one market had lower speculator contracts.
Leading the gains for the metals was Gold (24,452 contracts) with Copper (7,568 contracts), Silver (5,132 contracts), Palladium (784 contracts) and Steel (414 contracts) also coming in with positive weeks.
The market with a decline in speculator bets for the week was Platinum with a dip by -2,287 contracts over the period.
Legend: Weekly Speculators Change | Speculators Current Net Position | Speculators Strength Score compared to last 3-Years (0-100 range)
COT Strength Scores (a normalized measure of Speculator positions over a 3-Year range, from 0 to 100 where above 80 is Extreme-Bullish and below 20 is Extreme-Bearish) showed that Steel (88 percent) and Gold (86 percent) lead the metals markets this week.
On the downside, Palladium (41 percent) comes in at the lowest strength level currently.
Strength Statistics:
Gold (86.3 percent) vs Gold previous week (77.0 percent)
Silver (74.4 percent) vs Silver previous week (67.9 percent)
Copper (44.3 percent) vs Copper previous week (37.2 percent)
Platinum (52.8 percent) vs Platinum previous week (58.2 percent)
Palladium (40.9 percent) vs Palladium previous week (35.2 percent)
Steel (88.0 percent) vs Palladium previous week (86.4 percent)
COT Strength Score Trends (or move index, calculates the 6-week changes in strength scores) showed that Gold (7 percent) and Silver (4 percent) lead the past six weeks trends for metals.
Palladium (-20 percent) leads the downside trend scores currently with Platinum (-12 percent) as the next market with lower trend scores.
Move Statistics:
Gold (7.5 percent) vs Gold previous week (1.7 percent)
Silver (3.6 percent) vs Silver previous week (-2.3 percent)
Copper (1.3 percent) vs Copper previous week (-5.3 percent)
Platinum (-11.6 percent) vs Platinum previous week (-1.9 percent)
Palladium (-19.7 percent) vs Palladium previous week (-25.4 percent)
Steel (-0.7 percent) vs Steel previous week (-1.9 percent)
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-Extreme with a score of 86.3 percent. The commercials are Bearish-Extreme with a score of 13.4 percent and the small traders (not shown in chart) are Bullish with a score of 54.3 percent.
Our weekly trend-following model classifies the current market price position as: Strong Uptrend.
| Gold Futures Statistics | SPECULATORS | COMMERCIALS | SMALL TRADERS |
| – Percent of Open Interest Longs: | 59.4 | 17.5 | 9.2 |
| – Percent of Open Interest Shorts: | 6.3 | 74.9 | 4.8 |
| – Net Position: | 279,363 | -302,452 | 23,089 |
| – Gross Longs: | 312,568 | 92,075 | 48,250 |
| – Gross Shorts: | 33,205 | 394,527 | 25,161 |
| – Long to Short Ratio: | 9.4 to 1 | 0.2 to 1 | 1.9 to 1 |
| NET POSITION TREND: | |||
| – Strength Index Score (3 Year Range Pct): | 86.3 | 13.4 | 54.3 |
| – Strength Index Reading (3 Year Range): | Bullish-Extreme | Bearish-Extreme | Bullish |
| NET POSITION MOVEMENT INDEX: | |||
| – 6-Week Change in Strength Index: | 7.5 | -5.8 | -12.4 |
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 74.4 percent. The commercials are Bearish with a score of 28.4 percent and the small traders (not shown in chart) are Bearish with a score of 36.4 percent.
Our weekly trend-following model classifies the current market price position as: Strong Downtrend.
| Silver Futures Statistics | SPECULATORS | COMMERCIALS | SMALL TRADERS |
| – Percent of Open Interest Longs: | 47.6 | 21.5 | 18.0 |
| – Percent of Open Interest Shorts: | 16.9 | 61.2 | 8.9 |
| – Net Position: | 46,080 | -59,676 | 13,596 |
| – Gross Longs: | 71,511 | 32,379 | 27,024 |
| – Gross Shorts: | 25,431 | 92,055 | 13,428 |
| – Long to Short Ratio: | 2.8 to 1 | 0.4 to 1 | 2.0 to 1 |
| NET POSITION TREND: | |||
| – Strength Index Score (3 Year Range Pct): | 74.4 | 28.4 | 36.4 |
| – Strength Index Reading (3 Year Range): | Bullish | Bearish | Bearish |
| NET POSITION MOVEMENT INDEX: | |||
| – 6-Week Change in Strength Index: | 3.6 | 2.6 | -25.1 |
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 57.9 percent and the small traders (not shown in chart) are Bearish with a score of 34.1 percent.
Our weekly trend-following model classifies the current market price position as: Weak Downtrend.
| Copper Futures Statistics | SPECULATORS | COMMERCIALS | SMALL TRADERS |
| – Percent of Open Interest Longs: | 40.6 | 36.6 | 7.4 |
| – Percent of Open Interest Shorts: | 35.0 | 43.5 | 6.1 |
| – Net Position: | 11,838 | -14,543 | 2,705 |
| – Gross Longs: | 84,904 | 76,426 | 15,377 |
| – Gross Shorts: | 73,066 | 90,969 | 12,672 |
| – Long to Short Ratio: | 1.2 to 1 | 0.8 to 1 | 1.2 to 1 |
| NET POSITION TREND: | |||
| – Strength Index Score (3 Year Range Pct): | 44.3 | 57.9 | 34.1 |
| – Strength Index Reading (3 Year Range): | Bearish | Bullish | Bearish |
| NET POSITION MOVEMENT INDEX: | |||
| – 6-Week Change in Strength Index: | 1.3 | 0.2 | -9.8 |
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 52.8 percent. The commercials are Bearish with a score of 47.3 percent and the small traders (not shown in chart) are Bearish with a score of 37.9 percent.
Our weekly trend-following model classifies the current market price position as: Downtrend.
| Platinum Futures Statistics | SPECULATORS | COMMERCIALS | SMALL TRADERS |
| – Percent of Open Interest Longs: | 62.8 | 20.7 | 12.3 |
| – Percent of Open Interest Shorts: | 42.0 | 47.8 | 5.9 |
| – Net Position: | 15,560 | -20,344 | 4,784 |
| – Gross Longs: | 47,098 | 15,507 | 9,246 |
| – Gross Shorts: | 31,538 | 35,851 | 4,462 |
| – Long to Short Ratio: | 1.5 to 1 | 0.4 to 1 | 2.1 to 1 |
| NET POSITION TREND: | |||
| – Strength Index Score (3 Year Range Pct): | 52.8 | 47.3 | 37.9 |
| – Strength Index Reading (3 Year Range): | Bullish | Bearish | Bearish |
| NET POSITION MOVEMENT INDEX: | |||
| – 6-Week Change in Strength Index: | -11.6 | 18.8 | -54.0 |
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 40.9 percent. The commercials are Bullish with a score of 57.5 percent and the small traders (not shown in chart) are Bullish with a score of 73.3 percent.
Our weekly trend-following model classifies the current market price position as: Downtrend.
| Palladium Futures Statistics | SPECULATORS | COMMERCIALS | SMALL TRADERS |
| – Percent of Open Interest Longs: | 38.6 | 44.8 | 11.2 |
| – Percent of Open Interest Shorts: | 79.6 | 7.9 | 7.2 |
| – Net Position: | -8,330 | 7,506 | 824 |
| – Gross Longs: | 7,855 | 9,114 | 2,279 |
| – Gross Shorts: | 16,185 | 1,608 | 1,455 |
| – Long to Short Ratio: | 0.5 to 1 | 5.7 to 1 | 1.6 to 1 |
| NET POSITION TREND: | |||
| – Strength Index Score (3 Year Range Pct): | 40.9 | 57.5 | 73.3 |
| – Strength Index Reading (3 Year Range): | Bearish | Bullish | Bullish |
| NET POSITION MOVEMENT INDEX: | |||
| – 6-Week Change in Strength Index: | -19.7 | 19.0 | 1.1 |
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-Extreme with a score of 88.0 percent. The commercials are Bearish-Extreme with a score of 12.7 percent and the small traders (not shown in chart) are Bearish with a score of 39.3 percent.
Our weekly trend-following model classifies the current market price position as: Downtrend.
| Steel Futures Statistics | SPECULATORS | COMMERCIALS | SMALL TRADERS |
| – Percent of Open Interest Longs: | 26.0 | 68.0 | 1.0 |
| – Percent of Open Interest Shorts: | 34.0 | 60.3 | 0.7 |
| – Net Position: | -2,183 | 2,120 | 63 |
| – Gross Longs: | 7,148 | 18,659 | 263 |
| – Gross Shorts: | 9,331 | 16,539 | 200 |
| – Long to Short Ratio: | 0.8 to 1 | 1.1 to 1 | 1.3 to 1 |
| NET POSITION TREND: | |||
| – Strength Index Score (3 Year Range Pct): | 88.0 | 12.7 | 39.3 |
| – Strength Index Reading (3 Year Range): | Bullish-Extreme | Bearish-Extreme | Bearish |
| NET POSITION MOVEMENT INDEX: | |||
| – 6-Week Change in Strength Index: | -0.7 | 0.7 | -0.8 |
Article By InvestMacro – Receive our weekly COT Newsletter
*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.
By InvestMacro Here are the latest charts and statistics for the Commitment of Traders (COT)…
By InvestMacro Here are the latest charts and statistics for the Commitment of Traders (COT)…
By InvestMacro Here are the latest charts and statistics for the Commitment of Traders (COT)…
Source: Michael Ballanger (1/16/25) Michael Ballanger of GGM Advisory Inc. shares his thoughts on the…
By ForexTime Bitcoin ↑ almost 10% YTD, adding to 120% gain in 2024 Trump expected…
Source: John Newell (1/15/25) John Newell of John Newell & Associates takes a look at…
This website uses cookies.
