Silver Non-Commercial Positions:
Large speculators and traders slightly decreased their net positions in the silver futures markets in the final week of 2016, 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 Comex silver futures, traded by large speculators and hedge funds, totaled a net position of 58,911 contracts in the data reported through December 27th. This was a weekly change of -1,983 contracts from the previous week which had a total of 60,894 net contracts.
Silver speculative positions have now fallen for two straight weeks and under the +60,000 level for the first time in three weeks.
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 -74,007 contracts last week. This is a weekly change of -59 contracts from the total net of -73,948 contracts reported the previous week.
Silver ETF:
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the iShares Silver (NYSE:SLV) ishares ETF, which tracks the price of silver, closed at approximately $15.13 which was a change of $-0.11 from the previous close of $15.24, according to ETF market data from Yahoo Finance.
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