COT Report: Speculators trim US Dollar bets. Gold, Silver, Yen & Crude bets rise

August 24, 2019

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Here are the latest links to our coverage of this week’s Commitment of Traders data changes.

This week in the COT data, precious metals speculators boosted their Gold and Silver positions after both had experienced down weeks last week. Gold speculators pushed their bullish bets to the highest level since 2016 and to just under the +300,000 contract level.

Silver speculators added to their bets this week after 2 down weeks and bullish bets rose back above +45,000 net contracts.

Copper speculators reduced their bearish bets for a 2nd straight week following a new all-time record high bearish position that was recorded on August 6th (at -58,449 contracts).


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In currencies, the USD Index speculators slightly cut back on their bullish bets for a second week and following six straight weeks of gains. The dollar position, despite a couple of down weeks, has continued to be remarkably steady in its bullishness.

Japanese yen bullish bets improved again and rose for a 5th consecutive week as the global market turmoil has pushed investors into safe haven instruments like the yen.

VIX speculators dropped their bearish positions for a third consecutive week and by a total of 84,816 contracts over that period. Spec positions had recently hit a record high bearish level in April but have now started sharply reducing their bets that the VIX will go lower.

The 10-Year Bond speculators cut back on their bearish bets after previously pushing their bearish positions higher for a five straight weeks. The 10-Year Bond speculative standing remains very bearish and above the -400,000 net contract level.

Finally, the WTI Crude Oil speculators sharply raised their bullish bets for a second week.


US Dollar Index Speculators pare bullish bets for 2nd week. Yen bullish bets rising

Large currency speculators reduced 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 lifted their bullish bets sharply this week

The large speculator contracts of WTI crude futures totaled a net position of 414,635 contracts, according to the latest data this week. This was a change of 32,491 contracts from the previous weekly total. See full article.


10-Year Note Speculators trimmed bearish bets for 1st time in 6 weeks

Large speculator contracts of the 10-Year Bond futures totaled a net position of -401,804 contracts, according to the latest data this week. This was a change of 12,542 contracts from the previous weekly total. See full article.


Gold Speculators raised their bullish bets this week to highest since 2016

Large precious metals speculator contracts of the Gold futures totaled a net position of 299,993 contracts, according to the latest data this week. This was a change of 9,903 contracts from the previous weekly total. See full article.


VIX Speculators continued to pare their bearish bets for 3rd week

Large stock market volatility speculator contracts of the VIX futures totaled a net position of -59,498 contracts, according to the latest data this week. This was a change of 11,873 contracts from the previous weekly total. See full article.


Silver Speculators boosted their bullish bets this week after 2 down weeks

Large precious metals speculator contracts of the silver futures totaled a net position of 46,714 contracts, according to the latest data this week. This was a change of 7,445 contracts from the previous weekly total. See full article.


Copper Speculators decreased their bearish bets for a 2nd week

Metals speculator contracts of the copper futures totaled a net position of -48,945 contracts, according to the latest data this week. This was a change of 4,655 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).