Silver Non-Commercial Positions:
Large speculators sharply increased their net positions in the silver futures markets last 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 Comex silver futures, traded by large speculators and hedge funds, totaled a net position of 101,382 contracts in the data reported through April 4th. This was a weekly gain of 10,694 contracts from the previous week which had a total of 90,688 net contracts.
Last week was the second straight week of gains over +10,000 net contracts and has brought the overall net bullish position to its highest level in over 30 years, according to our data going back to 1986.
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 -112,346 contracts last week. This is a weekly change of -10,579 contracts from the total net of -101,767 contracts reported the previous week.
Silver 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 $17.33 which was a rise of $0.15 from the previous close of $17.18, according to ETF financial market data.
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