Silver Non-Commercial Positions:
Large speculators and traders cut back on their bullish net positions in the silver futures markets last week for a second straight 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 93,613 contracts in the data reported through April 25th. This was a weekly decline of -10,274 contracts from the previous week which had a total of 103,887 net contracts.
Speculative positions have now fallen under the +100,000 contract level for the first time in four weeks and two weeks after recording an all time record high net bullish position at +105,515 contracts on April 11th.
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 -108,089 contracts last week. This is a weekly change of 8,743 contracts from the total net of -116,832 contracts reported the previous week.
Silver ETF (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 $16.68 which was a fall of $-0.66 from the previous close of $17.34, according to ETF financial market data.