August 25th 2018 – By CountingPips.com – Receive our weekly COT Reports by Email
Silver Non-Commercial Speculator Positions:
Large metals speculators raised their bearish bets 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 -7,158 contracts in the data reported through Tuesday August 21st. This was a weekly decline of -4,322 contracts from the previous week which had a total of -2,836 net contracts.
Speculators have cut back on their silver bets for three consecutive weeks and the overall position has been bearish for two straight weeks. The current position is now at the most bearish level since May 1st when the net position totaled -7,196 contracts.
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 -7,418 contracts on the week. This was a weekly increase of 4,958 contracts from the total net of -12,376 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 $13.89 which was a fall of $-0.28 from the previous close of $14.17, 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