Through Tuesday, October 29, 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 boosted 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 276,515 contracts in the data reported through Tuesday October 29th. This was a weekly rise of 17,383 net contracts from the previous week which had a total of 259,132 net contracts.
The week’s net position was the result of the gross bullish position (longs) increasing by 12,506 contracts (to a weekly total of 335,423 contracts) while the gross bearish position (shorts) fell by -4,877 contracts for the week (to a total of 58,908 contracts).
Gold speculators added to their bullish bets for a second straight week and for the third time in four weeks. The gold position has remained steady above the +250,000 net contract level for fifteen straight weeks with a recent high of +312,444 contracts on September 24th and a recent low of +253,027 contracts on October 15th.
Gold Commercial Positions:
The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -301,216 contracts on the week. This was a weekly decline of -5,859 contracts from the total net of -295,357 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 $1490.70 which was a boost of $3.20 from the previous close of $1487.50, according to unofficial market data.
Silver speculators advanced their bullish bets to 6-week high
Silver Non-Commercial Speculator Positions:
Large precious metals speculators raised 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 53,678 contracts in the data reported through Tuesday October 29th. This was a weekly gain of 6,935 net contracts from the previous week which had a total of 46,743 net contracts.
The week’s net position was the result of the gross bullish position (longs) growing by 5,621 contracts (to a weekly total of 95,368 contracts) while the gross bearish position (shorts) declined by -1,314 contracts for the week (to a total of 41,690 contracts).
Silver speculators raised their bullish bets for the second straight week and for the third time in the past four weeks. This boost this week brings the current bullish standing to the highest level of the past six weeks. Silver positions have now been in bullish territory for twenty-one consecutive weeks after turning from bearish to bullish on June 11th.
Silver Commercial Positions:
The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -68,045 contracts on the week. This was a weekly uptick of 3,978 contracts from the total net of -72,023 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 $1783.10 which was a gain of $33.10 from the previous close of $1750.00, according to unofficial market data.
US Dollar Index speculative bets dip to 10-week low
US Dollar Index Speculator Positions
Large currency speculators continued to cut back on their bullish net positions in the US Dollar Index 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 US Dollar Index futures, traded by large speculators and hedge funds, totaled a net position of 29,509 contracts in the data reported through Tuesday October 29th. This was a weekly decrease of -1,701 contracts from the previous week which had a total of 31,210 net contracts.
This week’s net position was the result of the gross bullish position (longs) tumbling by -3,650 contracts (to a weekly total of 37,183 contracts) compared to the gross bearish position (shorts) which fell by a lesser amount of -1,949 contracts on the week (to a total of 7,674 contracts).
US Dollar Index speculators dropped their bullish bets for a fourth consecutive week and pushed the overall bullish position to the lowest level in ten weeks, dating back to August 27th. Previously, the USD speculative position had risen to a 127-week high on October 1st before this recent cool off. The current level of bullish bets is just below the 2019 average position of +30,726 net contracts.
from Timor Invest https://ift.tt/2WO4mxr
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