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Silver Non-Commercial Speculator Positions:
Large speculators continued to decrease their net positions in the silver futures markets this week for a third 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 35,532 contracts in the data reported through Tuesday June 27th. This was a weekly reduction of -11,149 contracts from the previous week which had a total of 46,681 net contracts.
Silver speculative positions have now fallen to the lowest level since January 19th 2016 when net bullish positions totaled +28,958 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 -50,208 contracts on the week. This was a weekly rise of 8,626 contracts from the total net of -58,834 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 $15.79 which was a rise of $0.20 from the previous close of $15.59, according to unofficial market data.
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