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COT Gold, Silver and US Dollar Index Report - January 9, 2015

 -- Published: Friday, 9 January 2015 | Print  | Disqus 

Gold COT Report - Futures

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

187,705

65,527

40,899

130,427

253,099

359,031

359,525

Change from Prior Reporting Period

4,808

-1,533

10,240

4,609

14,147

19,657

22,854

Traders

126

82

71

47

59

204

190

 

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

34,990

34,496

394,021

 

 

 

382

-2,815

20,039

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Gold Report - Positions as of

Tuesday, January 06, 2015

 

Gold COT Report - Futures & Options Combined

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

200,644

62,280

148,419

209,460

347,582

558,524

558,281

Change from Prior Reporting Period

5,643

-1,578

15,319

6,236

16,377

27,199

30,118

Traders

148

94

123

53

65

256

236

 

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

38,641

38,884

597,165

 

 

 

627

-2,292

27,826

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Gold Report - Positions as of

Tuesday, January 06, 2015

 

Silver COT Report: Futures

Large Speculators

Commercial

Long

Short

Spreading

Long

Short

54,911

22,872

14,900

62,455

102,064

785

-1,232

911

1,843

2,816

Traders

71

50

47

42

46

Small Speculators

Open Interest

Total

Long

Short

152,879

Long

Short

20,613

13,043

132,266

139,836

-254

790

3,285

3,539

2,495

non reportable positions

Positions as of:

132

127

 

Tuesday, January 06, 2015

  © SilverSeek.com  

 

Silver COT Report: Futures & Options Combined

Large Speculators

Commercial

Long

Short

Spreading

Long

Short

52,639

24,004

34,704

88,683

125,635

1,038

-922

1,025

1,782

2,658

Traders

80

54

65

47

51

Small Speculators

Open Interest

Total

Long

Short

198,317

Long

Short

22,291

13,974

176,026

184,343

-102

981

3,743

3,846

2,762

non reportable positions

Positions as of:

153

147

 

Tuesday, January 06, 2015

  © SilverSeek.com  

 

US Dollar Index COT Report - Futures

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

97,113

27,327

1,339

10,387

95,549

108,839

124,215

15,543

-5,410

221

2,580

24,329

18,344

19,140

Traders

160

18

8

16

8

180

31

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

17,244

1,868

126,083

 

 

 

1,201

405

19,545

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Silver Report - Positions as of

Tuesday, January 06, 2015

 

US Dollar Index COT Report - Futures & Options Combined

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

97,096

27,880

1,456

11,033

95,729

109,585

125,065

15,522

-5,353

250

2,667

24,348

18,439

19,245

Traders

161

19

13

17

8

185

34

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

17,438

1,958

127,023

 

 

 

1,237

431

19,675

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Silver Report - Positions as of

Tuesday, January 06, 2015

  

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, 9 January 2015 | E-Mail  | Print  | Source: GoldSeek.com

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