Silver Non-Commercial Positions:
Large speculators and traders raised their net positions in the silver futures markets last week for a second straight week and to the highest of the past four 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 Comex silver futures, traded by large speculators and hedge funds, totaled a net position of 64,601 contracts in the data reported through January 10th. This was a weekly rise of 3,310 contracts from the previous week which had a total of 61,291 net contracts.
Silver spec positions are now above the +60,000 level for a second week in a row after dipping below this threshold and falling the last two weeks before the new year.
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 -78,937 contracts last week. This is a weekly fall of -3,123 contracts from the total net of -75,814 contracts reported the previous week.
Silver ETF:
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the SLV ishares ETF (NYSE:SLV), which tracks the price of silver, closed at approximately $15.91 which was a gain of $0.47 from the previous close of $15.44, according to ETF market data.
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