Silver Speculators Cut Back On Bullish Bets Slightly

April 14, 2019

Silver COT Futures Large Trader Positions

Silver Non-Commercial Speculator Positions

Large precious metals speculators decreased 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 16,418 contracts in the data reported through Tuesday, April 9th. This was a weekly decrease of -365 net contracts from the previous week which had a total of 16,783 net contracts.

The week’s net position was the result of the gross bullish position (longs) dropping by -2,583 contracts to a weekly total of 76,410 contracts that more than offset the gross bearish position (shorts) which also saw a decrease by -2,218 contracts for the week to a total of 59,992 contracts.

The net speculative position fell for a second straight week and was lower for the fifth time out of the past six weeks. The current standing in the silver spec positions has now declined to the lowest level of the past seventeen weeks.

Silver Commercial Positions

The commercial traders' position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -37,762 contracts on the week. This was a weekly decrease of -3,404 contracts from the total net of -34,358 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 $15.16 which was a boost of $0.15 from the previous close of $15.01, according to unofficial market data.


Spanish Conquistadores invaded the Inca Empire in 1528 to steal their silver and gold.

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