Silver Speculators Sharply Raised Their Bearish Net Positions This Past Week

September 9, 2018

Silver COT Futures Large Trader Positions

Silver Non-Commercial Speculator Positions:

Large precious metals speculators continued to boost their bearish 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 -28,974 contracts in the data reported through Tuesday September 4th. This was a weekly decline of -12,376 contracts from the previous week which had a total of -16,598 net contracts.

The speculative position has decreased for five straight weeks (by a total of -34,838 contracts) with the overall position now sitting in bearish territory for a fourth week in a row. The current bearish level of over -28,000 net contracts is at the most bearish standing on record, according to our data that goes back to 1986.

Silver Commercial Positions:

The commercial traders’ position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of 14,613 contracts on the week. This was a weekly boost of 13,196 contracts from the total net of 1,417 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 $14.18 which was a shortfall of $-0.59 from the previous close of $14.77, according to unofficial market data.


Man has had the ability to separate silver from lead for as far back as 4000 B.C.

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