By CountingPips.com – Get our weekly COT Reports by Email
Silver Non-Commercial Positions:
Large speculators and traders continued to boost their bullish net positions in the silver futures markets last week for a third consecutive 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 Comex silver futures, traded by large speculators and hedge funds, totaled a net position of 105,515 contracts in the data reported through April 11th. This was a weekly gain of 4,133 contracts from the previous week which had a total of 101,382 net contracts.
The latest data brings the net position to the most bullish speculative level on record and marks the second straight week over the +100,000 net contract level. Silver speculative positions have grown by +26,403 net contracts in just the past three weeks.
Silver Commercial Positions:
Free Reports:
Get Our Free Metatrader 4 Indicators - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
The commercial traders position, categorized by the CFTC as hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -114,414 contracts last week. This is a weekly change of -2,068 contracts from the total net of -112,346 contracts reported the previous week.
Silver 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 $17.31 which was an edge lower of $-0.02 from the previous close of $17.33, according to ETF financial market data.
*COT Report: The weekly commitment of traders report summarizes the total trader positions for open contracts in the futures trading 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
