MTECHTIPS-Silver Speculative Longs Up For Fourth Week

MTECHTIPS-Silver Speculative Longs Up For Fourth Week

MTECHTIPS – 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 38,851 contracts in the data reported through Tuesday August 15th. This was a weekly gain of 4,987 contracts from the previous week which had a total of 33,864 net contracts. Speculative silver positions are now higher for a fourth straight week and the current standing is the best level since June 20th. 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 -48,088 contracts on the week. This was a weekly loss of -8,527 contracts

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