Silver Speculators Lowered Their Bullish Bets For 2nd Week

September 22, 2019

Silver COT Futures Large Trader Positions

Silver Non-Commercial Speculator Positions

Large precious metals speculators trimmed their 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 55,978 contracts in the data reported through Tuesday September 17th. This was a weekly lowering of -4,253 net contracts from the previous week which had a total of 60,231 net contracts.

The week’s net position was the result of the gross bullish position (longs) falling by -5,788 contracts (to a weekly total of 94,625 contracts) while the gross bearish position (shorts) also declined but by a smaller amount of -1,535 contracts for the week (to a total of 38,647 contracts).

Silver speculators slightly reduced their bullish bets for a second week following three straight weeks of increases previously. The current speculator position remains highly bullish and above the +50,000 net contract level for a fourth consecutive week.

Silver Commercial Positions

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -77,547 contracts on the week. This was a weekly uptick of 7,221 contracts from the total net of -84,768 contracts reported the previous week.

Silver COT Futures Large Trader Positions

Silver Futures:

Over the same weekly reporting time-frame, from Tuesday to Tuesday, the Silver Futures (Front Month) closed at approximately $1814.00 which was a decline of $-4.60 from the previous close of $1818.60, according to unofficial market data.

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During 1500s the Spaniards had taken 16,000,000 kilograms of silver from Peru.