By CountingPips.com – Receive our weekly COT Reports by Email
Silver Non-Commercial Speculator Positions:
Large metals speculators increased their bearish 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 -13,657 contracts in the data reported through Tuesday March 27th. This was a weekly lowering of -1,141 contracts from the previous week which had a total of -12,516 net contracts.
Speculators have bet against silver futures for three straight weeks and the overall position is bearish for a second straight week.
The large speculators and the commercials are both negative on silver at the same time while the small traders are very bullish with a net position of +21,009 contracts this week. This is the highest bullish level for small traders since July 22nd of 2008 when net positions were +22,081 contracts.
Free Reports:
Silver Commercial Positions:
The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -7,352 contracts on the week. This was a weekly shortfall of -3,643 contracts from the total net of -3,709 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 $15.57 which was an uptick of $0.29 from the previous close of $15.28, 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