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COT Gold, Silver and US Dollar Index Report - September 19, 2014

 -- Published: Friday, 19 September 2014 | Print  | Disqus 

 

Gold COT Report - Futures

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

170,749

98,562

29,320

145,480

221,723

345,549

349,605

Change from Prior Reporting Period

-6,806

16,148

3,034

3,559

-18,153

-213

1,029

Traders

119

87

74

51

45

204

175

 

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

40,531

36,475

386,080

 

 

 

1,952

710

1,739

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Gold Report - Positions as of

Tuesday, September 16, 2014

 

Gold COT Report - Futures & Options Combined

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

177,225

94,564

160,837

241,677

329,190

579,740

584,592

Change from Prior Reporting Period

-8,122

11,501

16,755

13,569

-4,331

22,202

23,925

Traders

138

112

133

55

52

261

232

 

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

45,424

40,572

625,164

 

 

 

2,240

517

24,442

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Gold Report - Positions as of

Tuesday, September 16, 2014

 

Silver COT Report: Futures

Large Speculators

Commercial

Long

Short

Spreading

Long

Short

58,536

47,624

20,269

64,619

88,178

-374

5,251

1,265

4,796

-1,598

Traders

88

51

43

49

39

Small Speculators

Open Interest

Total

Long

Short

171,260

Long

Short

27,836

15,189

143,424

156,071

292

1,061

5,979

5,687

4,918

non reportable positions

Positions as of:

156

120

 

Tuesday, September 16, 2014

  © SilverSeek.com  

 

Silver COT Report: Futures & Options Combined

Large Speculators

Commercial

Long

Short

Spreading

Long

Short

54,998

47,093

42,415

89,559

111,312

-1,518

5,426

3,331

6,851

-654

Traders

103

56

67

54

46

Small Speculators

Open Interest

Total

Long

Short

216,889

Long

Short

29,915

16,068

186,973

200,820

628

1,189

9,292

8,664

8,103

non reportable positions

Positions as of:

184

148

 

Tuesday, September 16, 2014

  © SilverSeek.com  

 

US Dollar Index COT Report - Futures

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

73,991

20,628

1,203

6,577

67,696

81,771

89,527

1,766

-19,102

-1,421

1,422

22,538

1,767

2,015

Traders

132

17

6

15

8

150

28

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

9,159

1,403

90,930

 

 

 

-377

-625

1,390

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Silver Report - Positions as of

Tuesday, September 16, 2014

 

US Dollar Index COT Report - Futures & Options Combined

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

73,996

20,660

1,491

6,846

67,887

82,334

90,039

1,752

-19,063

-1,383

1,469

22,517

1,838

2,072

Traders

133

18

12

16

8

155

32

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

9,189

1,484

91,523

 

 

 

-377

-610

1,461

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Silver Report - Positions as of

Tuesday, September 16, 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, 19 September 2014 | E-Mail  | Print  | Source: GoldSeek.com

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