Commodities Buzz: COMEX Silver Speculators Turn Net Short

Commodities Buzz: COMEX Silver Speculators Turn Net Short

Mar 05, 2018 01:03 IST capital market

Large metal speculator net positions in the Silver futures markets fell into a small short position 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 -1,508 contracts in the data reported through Tuesday February 27th. This was a weekly drop of -6,828 contracts. The speculative position is in short territory for the first time since April of 2003. The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -14,463 contracts on the week. This was a weekly rise of 4,982 contracts from the total net of -19,445 contracts reported the previous week.

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