Silver Speculators increased their net positions for 5th week

June 9, 2018

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Silver Non-Commercial Speculator Positions:

Large precious metals speculators raised their bullish 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 19,434 contracts in the data reported through Tuesday June 5th. This was a weekly boost of 1,981 contracts from the previous week which had a total of 17,453 net contracts.

Speculative bets in favor of silver have risen for five consecutive weeks and are now at the highest bullish level since January 30th when the net positions were 32,422 contracts. Silver contracts had spent a total of seven weeks in bearish territory between late February and early May before resuming the current bullish sentiment.


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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 -37,547 contracts on the week. This was a weekly fall of -2,250 contracts from the total net of -35,297 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 $15.52 which was an advance of $0.08 from the previous close of $15.44, 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).

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