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COT Gold, Silver and US Dollar Index Report - July 11, 2014

 -- Published: Friday, 11 July 2014 | Print  | Disqus 

Gold COT Report - Futures

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

203,464

53,443

27,240

135,998

302,001

366,702

382,684

Change from Prior Reporting Period

2,177

-1,819

5,249

554

6,102

7,980

9,532

Traders

132

67

68

52

57

216

166

 

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

44,290

28,308

410,992

 

 

 

1,199

-353

9,179

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Gold Report - Positions as of

Tuesday, July 08, 2014

 

Gold COT Report - Futures & Options Combined

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

218,022

47,931

147,662

224,103

410,571

589,788

606,164

Change from Prior Reporting Period

-67

-1,854

5,306

159

3,493

5,397

6,944

Traders

154

87

119

58

61

269

215

 

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

48,717

32,340

638,504

 

 

 

930

-617

6,327

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Gold Report - Positions as of

Tuesday, July 08, 2014

 

Silver COT Report: Futures

Large Speculators

Commercial

Long

Short

Spreading

Long

Short

67,029

19,148

21,539

51,053

109,071

6,637

-945

1,656

-1,442

4,621

Traders

85

46

44

37

48

Small Speculators

Open Interest

Total

Long

Short

162,879

Long

Short

23,258

13,121

139,621

149,758

-670

849

6,181

6,851

5,332

non reportable positions

Positions as of:

143

121

 

Tuesday, July 08, 2014

  © SilverSeek.com  

 

Silver COT Report: Futures & Options Combined

Large Speculators

Commercial

Long

Short

Spreading

Long

Short

65,858

16,355

46,035

71,801

132,322

6,306

-1,202

2,281

-1,613

4,449

Traders

93

50

66

43

53

Small Speculators

Open Interest

Total

Long

Short

208,924

Long

Short

25,230

14,212

183,694

194,712

-675

771

6,299

6,974

5,528

non reportable positions

Positions as of:

166

143

 

Tuesday, July 08, 2014

  © SilverSeek.com  

 

US Dollar Index COT Report - Futures

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

38,732

19,030

2,595

4,890

30,222

46,217

51,847

-4,524

-4,169

340

381

-366

-3,803

-4,195

Traders

89

33

11

12

4

108

42

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

7,794

2,164

54,011

 

 

 

-461

-69

-4,264

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Silver Report - Positions as of

Tuesday, July 08, 2014

 

US Dollar Index COT Report - Futures & Options Combined

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

38,810

19,063

2,725

5,043

30,440

46,579

52,229

-4,628

-4,178

339

385

-484

-3,905

-4,323

Traders

90

35

15

12

5

111

47

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

7,869

2,219

54,447

 

 

 

-514

-96

-4,419

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Silver Report - Positions as of

Tuesday, July 08, 2014

  

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.


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 -- Published: Friday, 11 July 2014 | E-Mail  | Print  | Source: GoldSeek.com

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