August 4, 2018 – By countingpips.com – Receive our weekly COT Reports by Email
Silver Non-Commercial Speculator Positions:
Large precious metals speculators slightly advanced 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 5,864 contracts in the data reported through Tuesday July 31st. This was a weekly advance of 2,326 contracts from the previous week which had a total of 3,538 net contracts.
The speculative bullish position had been on a bearish streak over the previous six weeks and declined by -46,192 contracts over that time-frame before this week’s small turnaround. The overall net level remains under the +10,000 contracts standing for a third consecutive week.
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 -24,149 contracts on the week. This was a weekly drop of -4,124 contracts from the total net of -20,025 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 $14.61 which was a boost of $0.03 from the previous close of $14.58, 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