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COT Gold, Silver and US Dollar Index Report - December 14, 2012


-- Posted Friday, 14 December 2012 | | Disqus

 

Gold COT Report - Futures

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

201,955

38,256

24,220

135,772

350,652

361,947

413,128

Change from Prior Reporting Period

-222

1,815

1,446

-115

-2,831

1,109

430

Traders

195

61

69

57

45

284

152

 

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

71,639

20,458

433,586

 

 

 

-1,939

-1,260

-830

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Gold Report - Positions as of

Tuesday, December 11, 2012

 

Gold COT Report - Futures & Options Combined

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

206,748

30,701

135,629

204,114

433,800

546,491

600,131

Change from Prior Reporting Period

2,242

-1,503

9,807

3,883

6,878

15,933

15,183

Traders

230

72

139

59

54

340

221

 

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

78,597

24,957

625,088

 

 

 

-1,113

-363

14,820

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Gold Report - Positions as of

Tuesday, December 11, 2012

 

Silver COT Report: Futures

Large Speculators

Commercial

Long

Short

Spreading

Long

Short

48,548

9,048

24,475

39,515

97,438

-1,656

116

388

1,105

514

Traders

83

31

43

34

40

Small Speculators

Open Interest

Total

Long

Short

142,085

Long

Short

29,547

11,124

112,538

130,961

510

-671

347

-163

1,018

non reportable positions

Positions as of:

138

100

 

Tuesday, December 11, 2012

  © SilverSeek.com  

 

Silver COT Report: Futures & Options Combined

Large Speculators

Commercial

Long

Short

Spreading

Long

Short

49,317

6,003

44,777

48,827

111,297

-1,527

-229

961

1,433

1,281

Traders

94

29

71

39

44

Small Speculators

Open Interest

Total

Long

Short

174,534

Long

Short

31,614

12,458

142,921

162,076

534

-612

1,401

867

2,013

non reportable positions

Positions as of:

158

126

 

Tuesday, December 11, 2012

  © SilverSeek.com  

 

US Dollar Index COT Report - Futures

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

35,658

28,558

3,095

7,141

15,281

45,894

46,934

4,418

6,536

-1,274

2,703

1,630

5,847

6,892

Traders

36

40

9

13

10

55

54

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

2,836

1,796

48,730

 

 

 

-308

-1,353

5,539

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Silver Report - Positions as of

Tuesday, December 11, 2012

 

US Dollar Index COT Report - Futures & Options Combined

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

35,616

28,973

3,253

7,623

15,319

46,491

47,544

4,404

6,110

-1,449

2,284

1,611

5,239

6,272

Traders

37

40

11

14

10

57

55

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

2,870

1,817

49,362

 

 

 

-339

-1,372

4,901

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Silver Report - Positions as of

Tuesday, December 11, 2012

 

The COT reports which we look at each week provide a breakdown of each Tuesday's open interest for markets in which 20 or more traders hold positions equal to or above the reporting levels established by the CFTC.   The weekly reports for Futures-and-Options-Combined Commitments of Traders are released every Friday at 3:30 p.m. Eastern time.   The short report shows open interest separately by reportable and Non-reportable positions.   For reportable positions, additional data is provided for commercial and non-commercial holdings, spreading, changes from the previous report.

 

Futures and Options Combined

What does this title mean?   A future is a standardized contract traded through regulated exchanges where an investor buys or sells a contract at a specified price for a specific date in the future.   The price includes the interest charge due to the seller by the buyer from the date of the contract to the due date.   An option is the ‘right to buy or sell’ a contract at a fixed date in the future at a specific [strike] price.   The difference is that a futures contract is an agreement to buy or sell, whereas an option gives the holder the right to buy or sell.   An option holder can decide not to take up that right and will only lose the cost of buying the option.   His loss is therefore definable at the start of his investment, while the potential profit has not limit to it.   A futures contract is usually leveraged [a loan provided] up to 90% of the contract.   However, with the owner liable to top up his ‘margin’ to maintain this 10% his potential losses can rise far higher than his investment.  A ‘long’ [buying] contract limits its loss to the full price of the item, whereas the ‘short’ [selling] contract has no limit except the height that the price of the item can rise to.

 

The Commitment of Traders report [COT] is therefore a report on the overall position of the Commodity Exchange [COMEX or NYMEX].

 

Large & Small Speculators

The word “speculator” implies that the person is simply making a bet on the way he thinks the price of the item is going to move.   In essence, he is a gambler.   A trader might be this, but then again he might be an Arbitrageur, buying in one market and selling in another to capture the price difference between the two.   He wants to deal as fast as possible so as to minimize his risk of a price movement while he is exposed.   We would not put him in the same category as a speculator.

 

Contract

One contract is 100 ounces of gold, or 5,000 ounces silver.   The numbers referred to above are therefore the number of contracts in that position.   The net long speculative position is found by adding the large and small speculators bought contracts and deducting the large and small speculators sold contracts.   We work on there being 32,150 ounces in a tonne.

 

Buy [Long]

A long position is where an investor, trader, speculator buys 100 ounces x the number of contracts.     

 

Sell [Short]

A short position is where an investor, trader, speculator sells 100 ounces x the number contracts.

 

Spreading

For the options-and-futures-combined report, spreading measures the extent to which each non-commercial trader holds equal combined-long and combined-short positions. For example, if a non-commercial trader in Gold futures holds 2,000 long contracts and 1,500 short contracts, 500 contracts will appear in the "Long" category and 1,500 contracts will appear in the "Spreading" category.

 

Open Interest

Open interest is the total of all futures and/or option contracts entered into and not yet offset by a transaction, by delivery, by exercise, etc. The aggregate of all long open interest is equal to the aggregate of all short open interest.

 

Reportable Positions

Clearing members, futures commission merchants, and foreign brokers (collectively called "reporting firms") file daily reports with the Commission. Those reports show the futures and option positions of traders that hold positions above specific reporting levels set by CFTC regulations.

 

Commercial and Non-commercial Traders

When an individual reportable trader is identified to the Commodities Futures Trading Commission, the trader is classified either as "commercial" or "non-commercial." All of a trader's reported futures positions in a commodity are classified as commercial if the trader uses futures contracts in that particular commodity for hedging as defined in the Commission's regulations (1.3(z)).

 

Non-reportable Positions

The long and short open interest shown as "Non-reportable Positions" are derived by subtracting total long and short "Reportable Positions" from the total open interest. Accordingly, for "Non-reportable Positions," the number of traders involved and the commercial/non-commercial classification of each trader are unknown.

 

Changes in Commitments from Previous Reports

Changes represent the differences between the data for the current report date and the data published in the previous report.

 

Number of Traders

To determine the total number of reportable traders in a market, a trader is counted only once regardless whether the trader appears in more than one category (non-commercial traders may be long or short only and may be spreading; commercial traders may be long and short). To determine the number of traders in each category, however, a trader is counted in each category in which the trader holds a position. Therefore, the sum of the numbers of traders in each category will often exceed the "Total" number of traders in that market.


-- Posted Friday, 14 December 2012 | Digg This Article | Source: GoldSeek.com

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