Sept 1, 2018 – By CountingPips.com – Receive our weekly COT Reports by Email
Silver Non-Commercial Speculator Positions:
Large metals speculators raised their bearish net positions in the Silver futures markets again 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 -16,598 contracts in the data reported through Tuesday August 28th. This was a weekly decline of -9,440 contracts from the previous week which had a total of -7,158 net contracts.
Speculative bearish positions have increased for four straight weeks and for ten out of the past eleven weeks. The overall net position is at the most bearish standing since April 3rd of this year when the net level equaled -16,965 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 1,417 contracts on the week. This was a weekly uptick of 8,835 contracts from the total net of -7,418 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 $13.84 which was a decline of $-0.05 from the previous close of $13.89, 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