Silver Non-Commercial Speculator Positions:
Large speculators raised their bullish net positions in the silver futures markets 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 53,645 contracts in the data reported through Tuesday August 29th. This was a weekly gain of 9,099 contracts from the previous week which had a total of 44,546 net contracts.
Silver speculative positions have risen for six straight weeks (by a total of +44,269 contracts over that time) and are now at the highest level since June 13th when net positions totaled +60,658 contracts.
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 -65,588 contracts on the week. This was a weekly decline of -10,539 contracts from the total net of -55,049 contracts reported the previous week.
SLV (NYSE: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 $16.42 which was an advance of $0.35 from the previous close of $16.07, according to unofficial market data.
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