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Through Tuesday, Octobrer 22, 2019
Charts and commentary courtesy of CountingPips.com
Tables courtesy of GoldSeek
Note: Commitment of Traders reports are published Friday with data from the previous Tuesday.
Gold Non-Commercial Speculator Positions:
Large precious metals speculators lifted their bullish net positions in the Gold 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 Gold futures, traded by large speculators and hedge funds, totaled a net position of 259,132 contracts in the data reported through Tuesday October 22nd. This was a weekly gain of 6,105 net contracts from the previous week which had a total of 253,027 net contracts.
The week’s net position was the result of the gross bullish position (longs) advancing by 3,547 contracts (to a weekly total of 322,917 contracts) while the gross bearish position (shorts) fell by -2,558 contracts for the week (to a total of 63,785 contracts).
Large precious metals speculators lifted their bullish net positions in the Gold 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 Gold futures, traded by large speculators and hedge funds, totaled a net position of 259,132 contracts in the data reported through Tuesday October 22nd. This was a weekly gain of 6,105 net contracts from the previous week which had a total of 253,027 net contracts.
The week’s net position was the result of the gross bullish position (longs) advancing by 3,547 contracts (to a weekly total of 322,917 contracts) while the gross bearish position (shorts) fell by -2,558 contracts for the week (to a total of 63,785 contracts).
Gold Commercial Positions:
The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -295,357 contracts on the week. This was a weekly shortfall of -7,082 contracts from the total net of -288,275 contracts reported the previous week.
Gold Futures:
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the Gold Futures (Front Month) closed at approximately $1487.50 which was a boost of $4.00 from the previous close of $1483.50, according to unofficial market data.
Silver Non-Commercial Speculator Positions:
Large precious metals speculators boosted 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 46,743 contracts in the data reported through Tuesday October 22nd. This was a weekly change of 2,754 net contracts from the previous week which had a total of 43,989 net contracts.
The week’s net position was the result of the gross bullish position (longs) ascending by 4,659 contracts (to a weekly total of 89,747 contracts) while the gross bearish position (shorts) rose by just 1,905 contracts for the week (to a total of 43,004 contracts).
Silver speculators raised their bullish bets for the second time in the past three weeks following a streak of four straight down weeks (September 10th through October 1st). The silver position continues to be in a fairly strong standing with the net contract level above +45,000 contracts. Overall, the silver net position has now been above the +40,000 contract level for ten 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 -72,023 contracts on the week. This was a weekly fall of -1,536 contracts from the total net of -70,487 contracts reported the previous week.
Silver Futures:
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the Silver Futures (Front Month) closed at approximately $1750.0 which was an uptick of $11.6 from the previous close of $1738.4, according to unofficial market data.
Speculators reduce US Dollar Index bets
US Dollar Index Speculator Positions
Large currency speculators continued to decrease their bullish net positions in the US Dollar Index 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 US Dollar Index futures, traded by large speculators and hedge funds, totaled a net position of 31,210 contracts in the data reported through Tuesday October 22nd. This was a weekly decline of -6,226 contracts from the previous week which had a total of 37,436 net contracts.
This week’s net position was the result of the gross bullish position (longs) sinking by -3,455 contracts (to a weekly total of 40,833 contracts) compared to the gross bearish position (shorts) which saw a rise by 2,771 contracts on the week (to a total of 9,623 contracts).
US Dollar Index speculators reduced their bullish bets for a third straight week and by a total of -11,818 contracts over that time-frame. Previously, the dollar bets had hit a 127-week bullish high on October 1st above the +43,000 net contract level before the recent cool off. Overall, the dollar position has now been in bullish territory for seventy-six straight weeks, dating back to May of 2018.
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