Silver Non-Commercial Speculator Positions:
Large speculators cut back on their net positions in the Silver futures markets this week for a fourth consecutive 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 26,275 contracts in the data reported through Tuesday July 3rd. This was a weekly decline of -9,257 contracts from the previous week which had a total of 35,532 net contracts.
Silver speculative positions have fallen by just around -40,000 contracts in the past four weeks and the current standing is now the lowest level since January 12th 2016.
Silver Commercial Positions:
The commercial traders position, categorized by the CFTC as hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -39,228 contracts on the week. This was a weekly boost of 10,980 contracts from the total net of -50,208 contracts reported the previous week.
SLV ETF:
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the SLV ishares ETF, which tracks the price of silver, closed at approximately $15.30 which was a decline of $-0.49 from the previous close of $15.79, according to unofficial market data.
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