Silver Speculators Raised Their Net Positions, Up For 2nd Week
Zachary Storella | Nov 19, 2017 02:43AM ET
Silver Non-Commercial Speculator Positions:
Large speculators slightly increased their 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 69,173 contracts in the data reported through Tuesday November 14th. This was a weekly lift of 271 contracts from the previous week which had a total of 68,902 net contracts.
Speculative positions rose for the second straight week and have now advanced to the highest net position level of the past nine weeks.
Silver Commercial Positions:
The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -80,448 contracts on the week. This was a weekly boost of 1,193 contracts from the total net of -81,641 contracts reported the previous week.
SLV ETF:
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the iShares Silver ETF (NYSE:SLV), which tracks the price of silver, closed at approximately $16.08 which was a boost of $0.07 from the previous close of $16.01, according to unofficial market data.
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