Silver Non-Commercial Speculator Positions:
Large precious metals speculators reduced their bullish 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 Monday due to the 4th of July holiday.
The non-commercial futures contracts of Silver futures, traded by large speculators and hedge funds, totaled a net position of 24,682 contracts in the data reported through Tuesday July 3rd. This was a weekly decline of -9,539 contracts from the previous week which had a total of 34,221 net contracts.
The silver speculative position has now fallen for three straight weeks after seeing improvements in the previous six weeks in a row. The overall bullish level is at the lowest standing of the past four weeks but has remained above the +15,000 net contract level for seven straight weeks.
Silver Commercial Positions:
The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -38,555 contracts on the week. This was a weekly advance of 10,476 contracts from the total net of -49,031 contracts reported the previous week.
iShares Silver (NYSE:SLV):
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the SLV ishares ETF, which tracks the price of silver, closed at approximately $15.03 which was a shortfall of $-0.3 from the previous close of $15.33, according to unofficial market data.