October 13, 2018 – By CountingPips.com – Receive our weekly COT Reports by Email
Silver Non-Commercial Speculator Positions:
Large precious 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 -22,250 contracts in the data reported through Tuesday October 9th. This was a weekly reduction of -4,752 contracts from the previous week which had a total of -17,498 net contracts.
This week’s increase in bearish bets followed four straight weeks of declining bearish levels. The current standing rose back over the -20,000 net contract level for the fifth time out of the past six weeks.
Silver bets have now been in bearish territory for nine straight weeks dating back to August 14th.
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Silver Commercial Positions:
The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of 3,555 contracts on the week. This was a weekly rise of 4,567 contracts from the total net of -1,012 contracts reported the previous week.
Silver Futures:
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the Silver Futures (Front Month) closed at approximately $1440.00 which was a loss of $-29.30 from the previous close of $1469.30, 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
