Silver Non-Commercial Speculator Positions:
Large metals speculators sharply raised their bullish net positions in the Silver futures markets again 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 49,730 contracts in the data reported through Tuesday June 12th. This was a weekly increase of 30,296 contracts from the previous week which had a total of 19,434 net contracts.
The speculative bets in favor of silver have now risen for six straight weeks going from an overall short position to this week’s standing which is the highest level since November 28th of 2017.
Silver Commercial Positions:
The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -67,382 contracts on the week. This was a weekly drop of -29,835 contracts from the total net of -37,547 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 $15.87 which was an increase of $0.35 from the previous close of $15.52, according to unofficial market data.
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