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COT Gold, Silver and US Dollar Index Report - October 24, 2014

 -- Published: Friday, 24 October 2014 | Print  | Disqus 

Gold COT Report - Futures

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

207,129

99,145

30,768

139,429

244,327

377,326

374,240

Change from Prior Reporting Period

13,549

-9,020

733

-1,208

24,867

13,074

16,580

Traders

141

99

75

51

54

221

203

 

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

33,731

36,817

411,057

 

 

 

128

-3,378

13,202

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Gold Report - Positions as of

Tuesday, October 21, 2014

 

Gold COT Report - Futures & Options Combined

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

204,257

92,978

177,048

250,308

357,718

631,612

627,744

Change from Prior Reporting Period

12,683

-11,236

11,643

4,386

30,900

28,712

31,307

Traders

160

122

141

54

60

280

261

 

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

37,535

41,403

669,147

 

 

 

-866

-3,461

27,846

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Gold Report - Positions as of

Tuesday, October 21, 2014

 

Silver COT Report: Futures

Large Speculators

Commercial

Long

Short

Spreading

Long

Short

57,236

50,405

18,335

70,098

84,689

-952

-46

-565

3,198

1,529

Traders

91

65

49

46

40

Small Speculators

Open Interest

Total

Long

Short

170,192

Long

Short

24,523

16,763

145,669

153,429

-818

-55

863

1,681

918

non reportable positions

Positions as of:

156

139

 

Tuesday, October 21, 2014

  © SilverSeek.com  

 

Silver COT Report: Futures & Options Combined

Large Speculators

Commercial

Long

Short

Spreading

Long

Short

51,478

50,073

47,635

105,712

116,128

-313

94

-1,457

2,899

1,413

Traders

108

67

78

49

47

Small Speculators

Open Interest

Total

Long

Short

231,717

Long

Short

26,892

17,881

204,825

213,836

-1,243

-164

-114

1,129

50

non reportable positions

Positions as of:

188

165

 

Tuesday, October 21, 2014

  © SilverSeek.com  

 

US Dollar Index COT Report - Futures

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

62,624

12,398

2,048

5,350

64,235

70,022

78,681

-8,740

-10,000

-7

-2,105

-1,784

-10,852

-11,791

Traders

115

12

9

14

6

131

27

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

10,293

1,634

80,315

 

 

 

-851

88

-11,703

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Silver Report - Positions as of

Tuesday, October 21, 2014

 

US Dollar Index COT Report - Futures & Options Combined

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

62,611

12,639

2,269

5,822

64,465

70,702

79,372

-8,740

-10,072

-3

-2,160

-1,776

-10,903

-11,850

Traders

116

13

16

15

6

137

31

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

10,387

1,716

81,089

 

 

 

-866

82

-11,768

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Silver Report - Positions as of

Tuesday, October 21, 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, 24 October 2014 | E-Mail  | Print  | Source: GoldSeek.com

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