COT Speculators raise USD Index, Gold & Silver bets, cut WTI Crude & Copper bets

August 3, 2019

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Here are the latest links to our coverage of the Commitment of Traders data changes.

This week in the COT data, the USD Index speculators continued to increase their bullish bets for a fifth straight week. Speculators also raised their bearish bets for the Euro and British pound sterling.

Precious metals speculators continued their positive sentiment for both Gold and Silver again this week. Gold positions increased for the 8th time in the past 9 weeks while Silver bets advanced for a 3rd week to the most bullish level since November of 2017.

Copper speculators, meanwhile, resumed their bearish trend after paring bearish bets in the previous two weeks.

The 10-Year Bond speculators once again raised their bearish bets for a third straight week and to the most bearish spot in a month. Usually reliable trend-followers, the speculators have been caught on the wrong side of this market this year as 10-year bonds have been strongly bid.


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The WTI Crude Oil speculators cut back on their bullish bets again for a second consecutive week after positions had gone higher in four out of the previous five weeks.

Finally, VIX speculators boosted their bearish bets this week after a short cool off last week. Bearish bets have now increased to the highest level since May 7th and have now had rising bearish positions in 23 out of 30 weeks in 2019.


Speculators raise US Dollar Index bullish bets, add to EURO & GBP bearish bets

Large currency speculators raised their net positions in the US Dollar Index futures markets this week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday. See full article.


WTI Crude Oil Speculators trimmed their bullish bets for 2nd week

The large speculator contracts of WTI crude futures totaled a net position of 387,291 contracts, according to the latest data this week. This was a change of -10,560 contracts from the previous weekly total. See full article.


10-Year Note Speculators edged their bearish bets higher this week

Large speculator contracts of the 10-Year Bond futures totaled a net position of -383,842 contracts, according to the latest data this week. This was a change of -3,673 contracts from the previous weekly total. See full article.


Gold Speculators pushed bullish bets higher for 8th time in 9 weeks

Large precious metals speculator contracts of the Gold futures totaled a net position of 254,388 contracts, according to the latest data this week. This was a change of 3,138 contracts from the previous weekly total. See full article.


VIX Speculators pushed their bearish bets higher for 7th time in 8 weeks

Large stock market volatility speculator contracts of the VIX futures totaled a net position of -144,314 contracts, according to the latest data this week. This was a change of -12,047 contracts from the previous weekly total. See full article.


Silver Speculators boost bullish bets to highest since 2017

Large precious metals speculator contracts of the silver futures totaled a net position of 64,297 contracts, according to the latest data this week. This was a change of 9,536 contracts from the previous weekly total. See full article.


Copper Speculators raised their bearish bets after 2-week pause

Metals speculator contracts of the copper futures totaled a net position of -28,755 contracts, according to the latest data this week. This was a change of -4,706 contracts from the previous weekly total. See full article.


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*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) 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).