By CountingPips.com | Weekly CFTC Net Speculator Report
Silver speculative positions fell last week
Silver Futures (CMX):
Silver speculators and large futures traders trimmed their silver bullish bets last week for a fourth straight 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 +22,930 contracts in the data reported through April 28th. This was a weekly change of -1,395 contracts from the previous week’s total of +24,325 net contracts that was registered on April 21st.
The fall in the net speculator positions was the result of a gain in the weekly bullish positions by 3,492 contracts that was more than offset by a rise in the weekly bearish positions by 4,887 contracts to total the weekly change of -1,395 contracts.
Over the weekly reporting time-frame, from Tuesday April 21st to Tuesday April 28th, the silver price saw a rise from approximately $16.00 to $16.63, according to silver futures price data from investing.com.
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Commercial Positions:
The commercial trader positions, categorized as hedgers or traders engaged in buying and selling for business purposes, were virtually unchanged last week at a net total position of -33,999 contracts through April 28th. This is a weekly change of -163 contracts from the total net of -33,836 contracts on April 21st.
Last 6 Weeks of Large Trader Non-Commercial Silver Positions
| Date | Open Interest | Specs Long | Specs Short | Pct OI Specs Long | Pct OI Specs Short | Net Specs | Weekly Chg |
| 03/24/2015 | 172659 | 62332 | 30209 | 36.1 | 17.5 | 32123 | 7712 |
| 03/31/2015 | 170105 | 65426 | 22314 | 38.5 | 13.1 | 43112 | 10989 |
| 04/07/2015 | 169700 | 63241 | 21160 | 37.3 | 12.5 | 42081 | -1031 |
| 04/14/2015 | 177877 | 61417 | 26872 | 34.5 | 15.1 | 34545 | -7536 |
| 04/21/2015 | 182633 | 60848 | 36523 | 33.3 | 20 | 24325 | -10220 |
| 04/28/2015 | 179461 | 64340 | 41410 | 35.9 | 23.1 | 22930 | -1395 |
*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 – Forex Trading Apps
