Silver Price Speculators Lowered Bullish Bets For Second Week In January

February 17, 2019

Silver COT Futures Large Trader Positions

Silver Non-Commercial Speculator Positions

Large precious metals speculators reduced their bullish net positions in the Silver futures markets in January, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.

This latest COT data is from later in January due to the government shutdown which suspended the releases. The CFTC is releasing data on Tuesdays and Fridays going forward until the data is back up to date.

The non-commercial futures contracts of Silver futures, traded by large speculators and hedge funds, totaled a net position of 48,156 contracts in the data reported through Tuesday, January 22nd. This was a weekly decrease of -4,019 net contracts from the previous week which had a total of 52,175 net contracts.

This week’s net position was the result of the gross bullish position (longs) declining by -2,656 contracts to a weekly total of 83,303 contracts compared to the gross bearish position (shorts) which saw a gain by 1,363 contracts for the week to a total of 35,147 contracts.

The net speculative position fell for a second week after a streak of six straight weekly gains. The overall position through January 22nd remained in bullish territory for a seventh straight week and above the +40,000 net contract level for a fourth week in a row.

Silver Commercial Positions:

The commercial traders' position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -64,932 contracts on the week. This was a weekly uptick of 6,758 contracts from the total net of -71,690 contracts reported the previous week.

Silver COT Futures Large Trader Vs Silver Futures

Silver Futures

Over the same weekly reporting time-frame, from Tuesday to Tuesday, the Silver Futures (Front Month) closed at approximately $1532.5 which was a shortfall of $-29.50 from the previous close of $1562.00, according to unofficial market data.

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The symbol for silver ‘AG’ comes from the Latin word ‘agentum’ meaning silver.