Silver Non-Commercial Positions:
Large speculators and traders decreased their bullish net positions in the silver futures markets last 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 Comex silver futures, traded by large speculators and hedge funds, totaled a net position of 71,367 contracts in the data reported through May 2nd. This was a weekly drop of -22,246 contracts from the previous week which had a total of 93,613 net contracts.
Silver net speculative positions have now declined by over -34,000 contracts over the past three weeks after speculators built a record high bullish position on April 11th (+105,515 net bullish 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 -86,574 contracts last week. This is a weekly change of 21,515 contracts from the total net of -108,089 contracts reported the previous week.
iShares Silver (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 $15.93 which was a decline of $-0.75 from the previous close of $16.68, according to ETF financial market data.
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