Commodities Buzz: Silver Speculative Longs Increase Further

Commodities Buzz: Silver Speculative Longs Increase Further

Oct 26, 2020 02:10 IST capital market

Large precious metals speculators cut their bullish net positions 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 Friday. The non-commercial futures contracts of Silver futures, traded by large speculators and hedge funds, totaled a net position of 44726 net contracts in the data reported through October 19th 2020. This was a weekly rise of 3938 net contracts from the previous week. Net longs yet again edged up to around two and half month high. The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -59500 contracts on the week. This was a weekly change of -2552 net contracts.

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