Silver Non-Commercial Speculator Positions:
Large precious metals speculators decreased 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 40,902 contracts in the data reported through Tuesday June 19th. This was a weekly decline of -8,828 contracts from the previous week which had a total of 49,730 net contracts.
Speculator positions had recently rallied strongly out of a bearish position in early May with six straight weeks of improving contract levels before this week’s decline. Despite this week’s shortfall, the overall net position remains in a strong bullish level and above the +40,000 net contract standing for a second straight week.
Silver Commercial Positions:
The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -58,541 contracts on the week. This was a weekly uptick of 8,841 contracts from the total net of -67,382 contracts reported the previous week.
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the SLV ishares ETF, which tracks the price of silver, closed at approximately $15.36 which was a decrease of $-0.51 from the previous close of $15.87, according to unofficial market data.
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