MTECHTIPS:-Silver Sees Sharp Rise In Speculative Buying

MTECHTIPS:-Silver Sees Sharp Rise In Speculative Buying

MTECHTIPS-Silver futures markets last 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 63,915 contracts in the data reported through Tuesday October 17th. This was a weekly spurt of 4,807 contracts. Silver speculative positions had fallen for the previous four weeks before this week’s turnaround. The current spurt has taken the net longs at their one month high. The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -74,913 contracts on the week. This was a weekly drop of -4,305 contracts

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