Gold specs edge bullish bets slightly higher this week

Through Tuesday, July 16, 2019
Charts and commentary courtesy of CountingPips.com
Tables courtesy of GoldSeek

Note: Commitment of Traders reports are published Friday with data from the previous Tuesday.


Gold specs edge bullish bets slightly higher this week

Gold Non-Commercial Speculator Positions:

Large precious metals speculators increased their bullish net positions in the Gold futures markets this week after a down week last 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 245,501 contracts in the data reported through Tuesday July 16th. This was a weekly rise of 738 net contracts from the previous week which had a total of 244,763 net contracts.

The week’s net position was the result of the gross bullish position (longs) advancing by 3,430 contracts (to a weekly total of 309,535 contracts) while the gross bearish position (shorts) rose by 2,692 contracts for the week (to a total of 64,034 contracts).

Gold Commercial Positions:

Large speculators edged their bullish bets higher after a pull back (-14,183 contracts) last week. The trend for bullish bets has been sharply higher since May 28th when the net positions had fallen to a total of +86,688 contracts. Since then, bullish bets have risen by a total of 158,813 contracts (a weekly average gain above +20,000 contracts) as positions have increased for six out of the past seven weeks to a total above +240,000 net contracts.

Gold Futures:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -277,408 contracts on the week. This was a weekly gain of 1,008 contracts from the total net of -278,416 contracts reported the previous week.


Silver specs sharply boost bullish bets after 2 down weeks

Silver Non-Commercial Speculator Positions:

Large precious metals speculators sharply increased 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 37,425 contracts in the data reported through Tuesday July 16th. This was a weekly increase of 12,274 net contracts from the previous week which had a total of 25,151 net contracts.

The week’s net position was the result of the gross bullish position (longs) increasing by 4,369 contracts (to a weekly total of 100,449 contracts) while the gross bearish position (shorts) declined by -7,905 contracts for the week (to a total of 63,024 contracts).

Large speculators had decreased their bullish bets in the previous two weeks before this week’s rebound. The Silver speculative bets have been on a strong uptrend since June 4th that has taken the net position from bearish territory (-8,443 contracts) to a bullish position of more than +37,000 net contracts. The current standing is now at the highest level since February of this year.

Silver Commercial Positions:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -59,357 contracts on the week. This was a weekly drop of -14,080 contracts from the total net of -45,277 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 $1567.80 which was an uptick of $53.10 from the previous close of $1514.70, according to unofficial market data.


US Dollar Index speculators trimmed their net positions.

US Dollar Index Speculator Positions

Large currency speculators once again lifted their bullish net positions in the US Dollar Index 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 US Dollar Index futures, traded by large speculators and hedge funds, totaled a net position of 27,332 contracts in the data reported through Tuesday July 16th. This was a weekly increase of 276 contracts from the previous week which had a total of 27,056 net contracts.

This week’s net position was the result of the gross bullish position falling by -27 contracts (to a weekly total of 36,452 contracts) while the gross bearish position dropped a little further by -303 contracts for the week (to a total of 9,120 contracts) .

Large currency speculators pushed their bullish bets for the US Dollar index higher for a third consecutive week and for the fourth time in the past five weeks. The US dollar index positions have remained in bullish territory now for sixty-two straight weeks and have continued to stay above the +20,000 net contract level for the past fifty-two weeks.


*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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Posted in COT Reports |

Gold specs bullish bets take breather after strong 5-week run

Through Tuesday, July 9, 2019
Charts and commentary courtesy of CountingPips.com
Tables courtesy of GoldSeek

Note: Commitment of Traders reports are published Friday with data from the previous Tuesday.


Gold specs bullish bets take breather after strong 5-week run

Gold Non-Commercial Speculator Positions:

Large precious metals speculators reduced their bullish net positions in the Gold futures markets this week following a strong runup in recent weeks, 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 244,763 contracts in the data reported through Tuesday July 9th. This was a weekly decline of -14,183 net contracts from the previous week which had a total of 258,946 net contracts.

The week’s net position was the result of the gross bullish position (longs) falling by -6,597 contracts (to a weekly total of 306,105 contracts) while the gross bearish position (shorts) advanced by 7,586 contracts for the week (to a total of 61,342 contracts).

Large speculator bets had been surging for five straight weeks to the highest bullish level since September of 2016 before cooling off this week. The strong gains in gold bets started on June 4th and pushed on through July 2nd with a total gain of +172,258 contracts in just that 5-week time period.

The current standing remains very bullish and is above the +200,000 net contract level for a fourth straight week which is the longest streak above +200,000 since January of 2018.

Gold Commercial Positions:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -278,416 contracts on the week. This was a weekly advance of 8,406 contracts from the total net of -286,822 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 $1400.50 which was a decrease of $-7.50 from the previous close of $1408.00, according to unofficial market data.


Silver specs pull back on bullish bets for 2nd week after strong gains

Silver Non-Commercial Speculator Positions:

Large precious metals speculators cut back on their bullish net positions in the Silver futures markets this week after a strong streak of gains in recent weeks, 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 25,151 contracts in the data reported through Tuesday July 9th. This was a weekly lowering of -5,304 net contracts from the previous week which had a total of 30,455 net contracts.

The week’s net position was the result of the gross bullish position (longs) decreasing by -3,659 contracts (to a weekly total of 96,080 contracts) while the gross bearish position (shorts) rose by 1,645 contracts for the week (to a total of 70,929 contracts).

The large speculators cooled their bullish positions in the past two weeks. Previously, Silver speculator positions had risen very sharply for four straight weeks from June 4th to June 25th, gaining each week by over +10,000 net contracts (by a total of +52,974 contracts) and turning from an overall net bearish position to net bullish.

Despite these couple of pullbacks in the speculator sentiment, the current standing remains in bullish territory for a fifth straight week.

Silver Commercial Positions:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -45,277 contracts on the week. This was a weekly uptick of 6,786 contracts from the total net of -52,063 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 $1514.70 which was a drop of $-9.10 from the previous close of $1523.80, according to unofficial market data.


US Dollar Index specs lift their bullish bets

US Dollar Index Speculator Positions

Large currency speculators raised their bullish net positions in the US Dollar Index 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 US Dollar Index futures, traded by large speculators and hedge funds, totaled a net position of 27,056 contracts in the data reported through Tuesday July 9th. This was a weekly boost of 4,639 contracts from the previous week which had a total of 22,417 net contracts.

This week’s net position was the result of the gross bullish position going up by 2,982 contracts (to a weekly total of 36,479 contracts) compared to the gross bearish position which fell by -1,657 contracts (to a total of 9,423 contracts for the week).

The large speculators raised their bullish bets for the dollar index for a second straight week and for the third time in the past four weeks. This week’s gain was the highest one-week increase in almost a year (since July 24th of 2018).


*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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Posted in COT Reports |

Gold specs increase bullish bets to highest since 2016

Through Tuesday, July 2, 2019
Charts and commentary courtesy of CountingPips.com
Tables courtesy of GoldSeek

Note: Commitment of Traders reports are published Friday with data from the previous Tuesday.



Silver specs slightly edge bullish bets lower after 4 strong weeks of gains

Silver Non-Commercial Speculator Positions:

Large precious metals speculators edged their bullish net positions slightly lower in the Silver futures markets last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Monday (delayed due to July 4th holiday).

The non-commercial futures contracts of Silver futures, traded by large speculators and hedge funds, totaled a net position of 30,455 contracts in the data reported through Tuesday July 2nd. This was a weekly decline of -110 net contracts from the previous week which had a total of 30,565 net contracts.

The week’s net position was the result of the gross bullish position (longs) increasing by 2,166 contracts (to a weekly total of 99,739 contracts) while the gross bearish position (shorts) rose by 2,276 contracts for the week (to a total of 69,284 contracts).

The large speculator positions had gained very sharply for four straight weeks and by a total of +52,974 contracts over that period before last week’s slight pause. Silver’s recent bullish sentiment has spurred a dramatic turnaround from being bearish on June 4th with -8,443 net contracts.

The current standing for Silver speculative bets remains above the +30,000 net contract threshold for a second straight week, marking the first time since March bets have been this bullish.

Silver Commercial Positions:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -52,063 contracts on the week. This was a weekly increase of 1,489 contracts from the total net of -53,552 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 $1523.80 which was a drop of $-6.20 from the previous close of $1530.00, according to unofficial market data.


US Dollar Index speculator bets edge up

US Dollar Index Speculator Positions

Large currency speculators slightly edged their net positions higher in the US Dollar Index futures markets last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Monday (delayed due to July 4th holiday).

The non-commercial futures contracts of US Dollar Index futures, traded by large speculators and hedge funds, totaled a net position of 22,417 contracts in the data reported through Tuesday July 2nd. This was a weekly bump of 51 contracts from the previous week which had a total of 22,366 net contracts.

This week’s net position was the result of the gross bullish position falling by -830 contracts (to a weekly total of 33,497 contracts) while the gross bearish position dipped by -881 contracts for the week (to a total of 11,080 contracts) .

Large speculator positions were virtually unchanged this week following a drop by over -6,000 contracts in the previous week. The current US Dollar Index standing remains bullish but is near the low end of the range of its recent bullish strength.


*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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Posted in COT Reports |

Silver specs strongly boost bullish bets to 16-week high

Through Tuesday, June 22, 2019
Charts and commentary courtesy of CountingPips.com
Tables courtesy of GoldSeek

Note: Commitment of Traders reports are published Friday with data from the previous Tuesday.


Gold specs raise bullish bets sharply for 4th week

Gold Non-Commercial Speculator Positions:

Large precious metals speculators raised their bullish net positions higher 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 236,554 contracts in the data reported through Tuesday June 25th. This was a weekly boost of 32,231 net contracts from the previous week which had a total of 204,323 net contracts.

The week’s net position was the result of the gross bullish position (longs) gaining by 23,475 contracts (to a weekly total of 298,108 contracts) and combined with the gross bearish position (shorts) that fell by -8,756 contracts for the week (to a total of 61,554 contracts).

Spec Sentiment Strengthens

The gold large speculator position rose sharply for a fourth straight week and has risen by a total of just about +150,000 net contracts in these last four weeks. The gold speculator position had recently been as low as +37,395 contracts on April 23rd (just 10 weeks ago) before seeing a bullish surge in sentiment and shooting to higher levels over these past 10 weeks.

Gold bets are above the +200,000 contract level for a second straight week and are now at the highest level since September 9th of 2017.

Gold Commercial Positions:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -260,150 contracts on the week. This was a weekly fall of -36,295 contracts from the total net of -223,855 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 $1418.70 which was an increase of $68.00 from the previous close of $1350.70, according to unofficial market data.


Silver specs strongly boost bullish bets to 16-week high

Silver Non-Commercial Speculator Positions:

Large precious metals speculators continued to bet in favor of Silver in the 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 Silver futures, traded by large speculators and hedge funds, totaled a net position of 30,565 contracts in the data reported through Tuesday June 25th. This was a weekly gain of 16,049 net contracts from the previous week which had a total of 14,516 net contracts.

The week’s net position was the result of the gross bullish position (longs) rising by 4,298 contracts (to a weekly total of 97,573 contracts) that combined with the gross bearish position (shorts) that dropped by -11,751 contracts for the week (to a total of 67,008 contracts).

Silver had recently fallen into bearish territory in late April and through the month of May with positions marking a low of -22,409 contracts on May 28th. Since then sentiment has turned around sharply in the past month.

Silver large speculator positions continued to jump higher this week and the net position increased by over +10,000 contracts for a fourth consecutive week. This week’s rise by more than +16,000 contracts is the largest one-week gain since December 31st.

The rising speculator sentiment has pushed the current standing for the Silver bullish position to the highest level since March 5th when bets totaled +32,521 contracts.

Silver Commercial Positions:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -53,552 contracts on the week. This was a weekly shortfall of -19,065 contracts from the total net of -34,487 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 $1530.00 which was a rise of $30.70 from the previous close of $1499.30, according to unofficial market data.


US Dollar Index Speculators trim bullish bets

US Dollar Index Speculator Positions

Large currency speculators lowered their bullish net positions in the US Dollar Index 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 US Dollar Index futures, traded by large speculators and hedge funds, totaled a net position of 22,366 contracts in the data reported through Tuesday June 25th. This was a weekly decline of -6,183 contracts from the previous week which had a total of 28,549 net contracts.

This week’s net position was the result of the gross bullish position decreasing by -5,992 contracts (to a weekly total of 34,327 contracts) in addition to the gross bearish position which saw rose by 191 contracts for the week (to a total of 11,961 contracts).

Large currency speculators cut their bets of the US Dollar Index for the third time in the past four weeks and by the largest one-week decline since March. The overall trend for speculator bets has been steadily lower in recent months since reaching a high of +40,513 contracts on January 13th.


*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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Posted in COT Reports |

Gold specs continue to push bullish bets higher this week

Through Tuesday, June 18, 2019
Charts and commentary courtesy of CountingPips.com
Tables courtesy of GoldSeek

Note: Commitment of Traders reports are published Friday with data from the previous Tuesday.


Gold specs continue to push bullish bets higher this week

Gold Non-Commercial Speculator Positions:

Large precious metals speculators once again 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 204,323 contracts in the data reported through Tuesday June 18th. This was a weekly rise of 20,085 net contracts from the previous week which had a total of 184,238 net contracts.

The week’s net position was the result of the gross bullish position (longs) growing by 24,519 contracts (to a weekly total of 274,633 contracts) while the gross bearish position (shorts) increased by 4,434 contracts for the week (to a total of 70,310 contracts).

The large speculator position has surged higher for a third straight week and by a total of 117,635 contracts over just that period. The gold speculative position was recently as low as +37,395 contracts on April 23rd before sentiment turned and has taken off. A record weekly rise on June 4th has helped push bullish bets sharply higher and the current speculator standing now sits at the best level since January 30th of 2018.

Gold Commercial Positions:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -223,855 contracts on the week. This was a weekly drop of -21,828 contracts from the total net of -202,027 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 $1350.70 which was a rise of $19.50 from the previous close of $1331.20, according to unofficial market data.


Silver speculators further boosted their bullish bets for a 3rd week

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 14,516 contracts in the data reported through Tuesday June 18th. This was a weekly gain of 11,856 net contracts from the previous week which had a total of 2,660 net contracts.

The week’s net position was the result of the gross bullish position (longs) rising by 8,050 contracts (to a weekly total of 93,275 contracts) while the gross bearish position (shorts) dropped by -3,806 contracts for the week (to a total of 78,759 contracts).

This week marked the third straight week of gaining bullish positions and has pulled the overall net position level from -8,443 contracts on June 4th to a bullish level of 14,516 contracts this week.

Previously, the large speculator position had deteriorated from a strong bullish level in February (a peak of +58,313 contracts on Feb. 26th). Bullish bets declined throughout April and dropped into an overall short position on May 7th. The sentiment continued lower throughout May and culminated at a low of -22,409 contracts on May 28th.

Silver Commercial Positions:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -34,487 contracts on the week. This was a weekly drop of -9,296 contracts from the total net of -25,191 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 $1499.30 which was a rise of $25.30 from the previous close of $1474.00, according to unofficial market data.


US Dollar Index speculators raised bullish bets

US Dollar Index Speculator Positions

Large currency speculators raised their bullish net positions in the US Dollar Index futures markets this week while also sharply cutting back on bearish bets in the Japanese yen and the euro, 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 28,549 contracts in the data reported through Tuesday June 18th. This was a weekly advance of 4,560 contracts from the previous week which had a total of 23,989 net contracts.

This week’s net position was the result of the gross bullish position growing by 3,434 contracts (to a weekly total of 40,319 contracts) while the gross bearish position fell by -1,126 contracts for the week (to a weekly total of 11,770 contracts).

The large speculators added to their bullish bets for the dollar after decreasing their positions in the previous two weeks. The gain brought the overall long position to the highest level in seven weeks and above +28,000 contracts.


*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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Posted in COT Reports |