By CountingPips.com | Weekly Large Trader COT Report: Gold

Gold speculative positions rose last week while Silver speculative positions fell

GOLD Non-Commercial Positions:

Gold speculator and large futures traders boosted their gold bullish positions higher last week for a second consecutive week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.

The non-commercial futures contracts of Comex gold futures, traded by large speculators and hedge funds, totaled a net position of +189,806 contracts in the data reported through March 29th. This was a weekly change of +10,975 contracts from the previous week’s total of +178,831 net contracts that was registered on March 22nd.

The rise in the weekly net speculator positions (+10,975 net contracts) was due to a gain in the weekly bullish positions by 3,436 contracts that combined with a decrease in the weekly bearish positions by -7,539 contracts.

Gold Commercial Positions:

In the commercial positions for gold on the week, the commercials (hedgers or traders engaged in buying and selling for business purposes) increased their overall bearish positions for a second week to a net total position of -207,964 contracts through March 29th. This was a weekly change of -7,970 contracts from the total net position of -199,994 contracts on March 22nd.

GLD ETF:

Over the weekly reporting time-frame, from Tuesday March 22nd to Tuesday March 29th, the price of the (GLD) Gold ETF, which tracks the gold spot price, dipped from approximately $119.31 to $118.76, according to ETF price data of the SPDR Gold Trust ETF (GLD).

Last 6 Weeks of Large Trader Positions

Weekly Large Trader COT Report:  Silver

Silver Non-Commercial Positions:

Silver speculators and large futures traders trimmed their existing bullish positions lower last week and to the lowest level since early February, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.

The non-commercial futures contracts of Comex silver futures, traded by large speculators and hedge funds, totaled a net position of +54,507 contracts in the data reported through March 29th. This was a weekly change of -8,922 contracts from the previous week’s total of +63,429 net contracts that was registered on March 22nd.

The fall in the net speculator positions was due to a decline in the weekly bullish positions by -3,440 contracts that combined with a decrease in the weekly bearish positions by 5,482 contracts to total the weekly net change of -8,922 contracts.

Silver Commercial Positions:

The commercial traders positions, categorized as hedgers or traders engaged in buying and selling for business purposes, reduced their bearish positions last week to a net total position of -68,104 contracts through March 29th. This is a weekly change of +9,138 contracts from the total net of -77,242 contracts on March 22nd.

Silver ETF:

Over the weekly reporting time-frame, from Tuesday March 22nd to Tuesday March 29th, the SLV ishares ETF, which tracks the price of silver, edged lower from approximately $15.12 to $14.60, according to ETF market data from Yahoo Finance.

Last 6 Weeks of Large Trader Positions

*COT Report: The weekly commitment of traders report summarizes the total trader positions for open contracts in the futures trading 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). Find CFTC criteria here: (http://www.cftc.gov/MarketReports/CommitmentsofTraders/ExplanatoryNotes/index.htm).

Article by CountingPips.com