Archive for CountingPips Forex Blog – Page 2

Gold speculators raised their bullish bets for a 2nd week

November 2nd – By CountingPips.comReceive our weekly COT Reports by Email

Gold Non-Commercial Speculator Positions:

Large precious metals speculators boosted their bullish net positions in the Gold 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 Gold futures, traded by large speculators and hedge funds, totaled a net position of 276,515 contracts in the data reported through Tuesday October 29th. This was a weekly rise of 17,383 net contracts from the previous week which had a total of 259,132 net contracts.

The week’s net position was the result of the gross bullish position (longs) increasing by 12,506 contracts (to a weekly total of 335,423 contracts) while the gross bearish position (shorts) fell by -4,877 contracts for the week (to a total of 58,908 contracts).

Gold speculators added to their bullish bets for a second straight week and for the third time in four weeks. The gold position has remained steady above the +250,000 net contract level for fifteen straight weeks with a recent high of +312,444 contracts on September 24th and a recent low of +253,027 contracts on October 15th.

Gold Commercial Positions:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -301,216 contracts on the week. This was a weekly decline of -5,859 contracts from the total net of -295,357 contracts reported the previous week.

Gold Futures:

Over the same weekly reporting time-frame, from Tuesday to Tuesday, the Gold Futures (Front Month) closed at approximately $1490.70 which was a boost of $3.20 from the previous close of $1487.50, 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.comReceive our weekly COT Reports by Email

VIX Speculators pushed their bearish bets to new record high

November 2nd – By CountingPips.comReceive our weekly COT Reports by Email

VIX Non-Commercial Speculator Positions:

Large volatility speculators sharply raised their bearish net positions in the VIX 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 VIX futures, traded by large speculators and hedge funds, totaled a net position of -187,948 contracts in the data reported through Tuesday October 29th. This was a weekly change of -16,712 net contracts from the previous week which had a total of -171,236 net contracts.

The week’s net position was the result of the gross bullish position (longs) falling by -4,495 contracts (to a weekly total of 80,843 contracts) while the gross bearish position (shorts) saw a gain of 12,217 contracts for the week (to a total of 268,791 contracts).

VIX speculators continued to raise their bearish positions for the ninth consecutive week and have now added a total of -130,795 contracts to their bearish position over that nine-week period. This brings the current bearish standing to a total of -187,948 contracts which surpasses the previous record high bearish level of -180,359 contracts that was reached on April 30th.

VIX Commercial Positions:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of 199,743 contracts on the week. This was a weekly advance of 18,082 contracts from the total net of 181,661 contracts reported the previous week.

This week’s total also marks a record high position for the commercials but on the bullish side of the ledger. The previous record high was +183,724 contracts on April 30th.

VIX Futures:

Over the same weekly reporting time-frame, from Tuesday to Tuesday, the VIX Futures (Front Month) closed at approximately $15.47 which was a decrease of $-1.00 from the previous close of $16.47, 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.comReceive our weekly COT Reports by Email

Silver Speculators advanced their bullish bets to 6-week high

November 2nd – By CountingPips.comReceive our weekly COT Reports by Email

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 53,678 contracts in the data reported through Tuesday October 29th. This was a weekly gain of 6,935 net contracts from the previous week which had a total of 46,743 net contracts.

The week’s net position was the result of the gross bullish position (longs) growing by 5,621 contracts (to a weekly total of 95,368 contracts) while the gross bearish position (shorts) declined by -1,314 contracts for the week (to a total of 41,690 contracts).

Silver speculators raised their bullish bets for the second straight week and for the third time in the past four weeks. This boost this week brings the current bullish standing to the highest level of the past six weeks. Silver positions have now been in bullish territory for twenty-one consecutive weeks after turning from bearish to bullish on June 11th.

Silver Commercial Positions:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -68,045 contracts on the week. This was a weekly uptick of 3,978 contracts from the total net of -72,023 contracts reported the previous week.

Silver Futures:

Over the same weekly reporting time-frame, from Tuesday to Tuesday, the Silver Futures (Front Month) closed at approximately $1783.10 which was a gain of $33.10 from the previous close of $1750.00, 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.comReceive our weekly COT Reports by Email

Copper Speculators sharply pared their bearish bets to lowest in 3 months

November 2nd – By CountingPips.comReceive our weekly COT Reports by Email

Copper Non-Commercial Speculator Positions:

Large precious metals speculators cut back on their bearish net positions in the Copper 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 Copper futures, traded by large speculators and hedge funds, totaled a net position of -25,225 contracts in the data reported through Tuesday October 29th. This was a weekly change of 16,348 net contracts from the previous week which had a total of -41,573 net contracts.

The week’s net position was the result of the gross bullish position (longs) gaining by 8,070 contracts (to a weekly total of 76,814 contracts) while the gross bearish position (shorts) dropped by -8,278 contracts for the week (to a total of 102,039 contracts).

The copper speculators decreased their bearish bets for a third straight week and by a total of +22,868 contracts over that time-frame. Recently, the bearish position had risen to a record high on September 3rd at -58,841 contracts and had mostly remained at an elevated bearish level above the -40,000 contract threshold through last week. The decline in the bearish levels this week brings the overall standing (-25,225 contracts) to the least bearish position since July 23rd.

Copper Commercial Positions:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of 24,094 contracts on the week. This was a weekly drop of -16,746 contracts from the total net of 40,840 contracts reported the previous week.

Copper Futures:

Over the same weekly reporting time-frame, from Tuesday to Tuesday, the Copper Futures (Front Month) closed at approximately $269.15 which was a gain of $5.85 from the previous close of $263.30, 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.comReceive our weekly COT Reports by Email

Speculators reduce US Dollar Index, Japanese Yen bets while boosting British Pound, CAD & Euro bets

October 26th – By CountingPips.comReceive our weekly COT Reports by Email

US Dollar Index Speculator Positions

Large currency speculators continued to decrease their bullish net positions in the US Dollar Index 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 US Dollar Index futures, traded by large speculators and hedge funds, totaled a net position of 31,210 contracts in the data reported through Tuesday October 22nd. This was a weekly decline of -6,226 contracts from the previous week which had a total of 37,436 net contracts.

This week’s net position was the result of the gross bullish position (longs) sinking by -3,455 contracts (to a weekly total of 40,833 contracts) compared to the gross bearish position (shorts) which saw a rise by 2,771 contracts on the week (to a total of 9,623 contracts).

US Dollar Index speculators reduced their bullish bets for a third straight week and by a total of -11,818 contracts over that time-frame. Previously, the dollar bets had hit a 127-week bullish high on October 1st above the +43,000 net contract level before the recent cool off. Overall, the dollar position has now been in bullish territory for seventy-six straight weeks, dating back to May of 2018.


Individual Currencies Data this week: CAD bets at 89-week high

In the other major currency contracts data, we saw four substantial changes (+ or – 10,000 contracts) in the speculators category this week.

Euro bets surged this week by over +25,000 contracts following three straight weeks of declining positions (or higher bearish bets). The overall euro bearish standing (-51,050 contracts) fell to the least bearish position in six weeks. Overall, the euro position has been stuck in bearish territory for the past fifty-six straight weeks.

Japanese yen positions fell sharply for a second straight week and for the third consecutive week overall. The yen positioning (-18,165 contracts) is now in bearish territory for a second straight week after dropping by -17,653 contracts on October 15th. Previously, the yen had been in bullish standing from early August to October 8th.

British pound sterling speculators cut their bearish positions by over +20,000 contracts this week and bearish bets have now declined for six straight weeks. The current standing for GBP speculator positions (-52,440 contracts) is at the least bearish spot in nineteen weeks, dating back June.

Canadian dollar speculators boosted their bullish bets this week by over +20,000 contracts as the CAD positions rose for a second consecutive week. The gain for CAD bets brings the overall bullish position (+33,393 contracts) to the highest level in eighty-nine weeks, dating back to February of 2018.

Overall, the major currencies that saw improving speculator positions this week were the euro (25,816 weekly change in contracts), British pound sterling (20,512 contracts), Swiss franc (1,431 contracts), Canadian dollar (20,432 contracts) and the Australian dollar (3,619 contracts).

The currencies whose speculative bets declined this week were the US dollar index (-6,226 weekly change in contracts), Japanese yen (-11,524 contracts), New Zealand dollar (-126 contracts) and the Mexican peso (-92 contracts).


Chart: Current Strength of Each Currency compared to their 3-Year Range


See the table and individual currency charts below.


Table of Large Speculator Levels & Weekly Changes:

Currency Net Speculator Position Specs Weekly Change
USD Index 31,210 -6,226
EuroFx -51,050 25,816
GBP -52,440 20,512
JPY -18,165 -11,524
CHF -11,335 1,431
CAD 33,393 20,432
AUD -43,986 3,619
NZD -40,142 -126
MXN 112,950 -92

 

This latest COT data is through Tuesday and shows a quick view of how large speculators or non-commercials (for-profit traders) were positioned in the futures markets. All currency positions are in direct relation to the US dollar where, for example, a bet for the euro is a bet that the euro will rise versus the dollar while a bet against the euro will be a bet that the dollar will gain versus the euro.

 


Weekly Charts: Large Trader Weekly Positions vs Price

EuroFX:

The Euro large speculator standing this week came in at a net position of -51,050 contracts in the data reported through Tuesday. This was a weekly gain of 25,816 contracts from the previous week which had a total of -76,866 net contracts.


British Pound Sterling:

The large British pound sterling speculator level reached a net position of -52,440 contracts in the data reported this week. This was a weekly lift of 20,512 contracts from the previous week which had a total of -72,952 net contracts.


Japanese Yen:

Large Japanese yen speculators totaled a net position of -18,165 contracts in this week’s data. This was a weekly decline of -11,524 contracts from the previous week which had a total of -6,641 net contracts.


Swiss Franc:

The Swiss franc speculator standing this week recorded a net position of -11,335 contracts in the data through Tuesday. This was a weekly increase of 1,431 contracts from the previous week which had a total of -12,766 net contracts.


Canadian Dollar:

Canadian dollar speculators came in at a net position of 33,393 contracts this week. This was a advance of 20,432 contracts from the previous week which had a total of 12,961 net contracts.


Australian Dollar:

The large speculator positions in Australian dollar futures resulted in a net position of -43,986 contracts this week in the data ending Tuesday. This was a weekly rise of 3,619 contracts from the previous week which had a total of -47,605 net contracts.


New Zealand Dollar:

The New Zealand dollar speculative standing resulted in a net position of -40,142 contracts this week in the latest COT data. This was a weekly lowering of -126 contracts from the previous week which had a total of -40,016 net contracts.


Mexican Peso:

Mexican peso speculators came in at a net position of 112,950 contracts this week. This was a weekly fall of -92 contracts from the previous week which had a total of 113,042 net contracts.


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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).

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

October 26th – By CountingPips.comReceive our weekly COT Reports by Email

WTI Crude Oil Non-Commercial Speculator Positions:

Large energy speculators advanced their bullish net positions in the WTI Crude Oil 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 WTI Crude Oil futures, traded by large speculators and hedge funds, totaled a net position of 366,172 contracts in the data reported through Tuesday October 22nd. This was a weekly gain of 9,288 net contracts from the previous week which had a total of 356,884 net contracts.

The week’s net position was the result of the gross bullish position (longs) rising by 12,545 contracts (to a weekly total of 548,951 contracts) while the gross bearish position (shorts) increased by just 3,257 contracts for the week (to a total of 182,779 contracts).

WTI crude oil speculators raised their bullish bets for a second straight week following a streak of four weekly declines. The net position remains bullish above the +360,000 net contract level but is now under the +400,000 contract level for a fourth straight week (the 2019 average position is +398,827 contracts).

WTI Crude Oil Commercial Positions:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -366,970 contracts on the week. This was a weekly loss of -2,513 contracts from the total net of -364,457 contracts reported the previous week.

WTI Crude Oil Futures:

Over the same weekly reporting time-frame, from Tuesday to Tuesday, the WTI Crude Oil Futures (Front Month) closed at approximately $54.48 which was a boost of $1.67 from the previous close of $52.81, 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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10-Year Note Speculators dropped their bearish bets for 7th straight week

October 26th – By CountingPips.comReceive our weekly COT Reports by Email

10-Year Note Non-Commercial Speculator Positions:

Large bond speculators once again cut back on their bearish net positions in the 10-Year Note 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 10-Year Note futures, traded by large speculators and hedge funds, totaled a net position of -84,353 contracts in the data reported through Tuesday October 22nd. This was a weekly change of 15,339 net contracts from the previous week which had a total of -99,692 net contracts.

The week’s net position was the result of the gross bullish position (longs) going up by just 2,979 contracts (to a weekly total of 664,318 contracts) while the gross bearish position (shorts) lowered by -12,360 contracts for the week (to a total of 748,671 contracts).

10-year treasury speculators once again decreased their bearish bets for a seventh straight week and now by a total of 293,514 contracts over that period. The decrease in bearish sentiment has brought the position to its least bearish standing in ninety-four weeks dating back to January 2nd of 2018.

10-Year Note Commercial Positions:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of 63,012 contracts on the week. This was a weekly boost of 23,023 contracts from the total net of 39,989 contracts reported the previous week.

10-Year Note Futures:

Over the same weekly reporting time-frame, from Tuesday to Tuesday, the 10-Year Note Futures (Front Month) closed at approximately $129.82 which was an uptick of $0.03 from the previous close of $129.79, 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.comReceive our weekly COT Reports by Email

Gold Speculators lifted their bullish bets this week after recent sharp declines

October 26th – By CountingPips.comReceive our weekly COT Reports by Email

Gold Non-Commercial Speculator Positions:

Large precious metals speculators lifted their bullish net positions in the Gold 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 Gold futures, traded by large speculators and hedge funds, totaled a net position of 259,132 contracts in the data reported through Tuesday October 22nd. This was a weekly gain of 6,105 net contracts from the previous week which had a total of 253,027 net contracts.

The week’s net position was the result of the gross bullish position (longs) advancing by 3,547 contracts (to a weekly total of 322,917 contracts) while the gross bearish position (shorts) fell by -2,558 contracts for the week (to a total of 63,785 contracts).

Gold speculators added to their bullish bets after dropping their positions sharply over the previous three weeks (3-week total decline of -59,417 contracts). This week’s modest rise pushes the bullish standing close to the +260,000 net contract level but remains quite a ways off the recent three-year high of +312,444 contracts on September 24th.

Gold Commercial Positions:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -295,357 contracts on the week. This was a weekly shortfall of -7,082 contracts from the total net of -288,275 contracts reported the previous week.

Gold Futures:

Over the same weekly reporting time-frame, from Tuesday to Tuesday, the Gold Futures (Front Month) closed at approximately $1487.50 which was a boost of $4.00 from the previous close of $1483.50, 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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VIX Speculators boosted their bearish bets for 7th time in 8 weeks

October 26th – By CountingPips.comReceive our weekly COT Reports by Email

VIX Non-Commercial Speculator Positions:

Large volatility speculators added to their bearish net positions in the VIX futures markets once 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 VIX futures, traded by large speculators and hedge funds, totaled a net position of -171,236 contracts in the data reported through Tuesday October 22nd. This was a weekly change of -15,256 net contracts from the previous week which had a total of -155,980 net contracts.

The week’s net position was the result of the gross bullish position (longs) gaining by 4,813 contracts (to a weekly total of 85,338 contracts) while the gross bearish position (shorts) jumped by a larger amount of 20,069 contracts for the week (to a total of 256,574 contracts).

VIX speculators continued to boost their bearish bets for a second straight week and for seventh time in the past eight weeks. The bearish sentiment is now at the highest level in twenty-five weeks which is also the highest standing since the record bearish high of -180,359 on April 30th. Overall, VIX positions have been in negative territory for forty-one weeks dating back to January 8th.

VIX Commercial Positions:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of 181,661 contracts on the week. This was a weekly gain of 17,171 contracts from the total net of 164,490 contracts reported the previous week.

VIX Futures:

Over the same weekly reporting time-frame, from Tuesday to Tuesday, the VIX Futures (Front Month) closed at approximately $16.47 which was a shortfall of $-0.40 from the previous close of $16.87, 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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Silver Speculators added to their bullish bets for 2nd time in 3 weeks

October 26th – By CountingPips.comReceive our weekly COT Reports by Email

Silver Non-Commercial Speculator Positions:

Large precious metals speculators boosted 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 46,743 contracts in the data reported through Tuesday October 22nd. This was a weekly change of 2,754 net contracts from the previous week which had a total of 43,989 net contracts.

The week’s net position was the result of the gross bullish position (longs) ascending by 4,659 contracts (to a weekly total of 89,747 contracts) while the gross bearish position (shorts) rose by just 1,905 contracts for the week (to a total of 43,004 contracts).

Silver speculators raised their bullish bets for the second time in the past three weeks following a streak of four straight down weeks (September 10th through October 1st). The silver position continues to be in a fairly strong standing with the net contract level above +45,000 contracts. Overall, the silver net position has now been above the +40,000 contract level for ten straight weeks.

Silver Commercial Positions:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -72,023 contracts on the week. This was a weekly fall of -1,536 contracts from the total net of -70,487 contracts reported the previous week.

Silver Futures:

Over the same weekly reporting time-frame, from Tuesday to Tuesday, the Silver Futures (Front Month) closed at approximately $1750.0 which was an uptick of $11.6 from the previous close of $1738.4, 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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