By CountingPips.com – Receive our weekly COT Reports by Email
Silver Non-Commercial Speculator Positions:
Large speculators raised their bullish net positions in the Silver futures markets this 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 Silver futures, traded by large speculators and hedge funds, totaled a net position of 65,120 contracts in the data reported through Tuesday October 24th. This was a weekly lift of 1,205 contracts from the previous week which had a total of 63,915 net contracts.
Speculative positions have risen for two weeks in a row and are now at the highest level in five weeks.
Silver Commercial Positions:
Free Reports:
The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -76,505 contracts on the week. This was a weekly loss of -1,592 contracts from the total net of -74,913 contracts reported the previous week.
SLV ETF:
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the SLV ishares ETF, which tracks the price of silver, closed at approximately $16.02 which was a fall of $-0.07 from the previous close of $16.09, according to unofficial market data.
*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) as well as the commercial traders (hedgers & traders for business purposes) 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). Find CFTC criteria here: (http://www.cftc.gov/MarketReports/CommitmentsofTraders/ExplanatoryNotes/index.htm).
Article By CountingPips.com – Receive our weekly COT Reports by Email