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COT Gold, Silver and US Dollar Index Report - March 13, 2015

 -- Published: Friday, 13 March 2015 | Print  | Disqus 

 

Gold COT Report - Futures

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

171,821

89,929

43,257

154,578

243,920

369,656

377,106

Change from Prior Reporting Period

-8,740

25,188

-901

14,498

-19,547

4,857

4,740

Traders

141

91

82

53

50

231

192

 

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

41,262

33,812

410,918

 

 

 

937

1,054

5,794

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Gold Report - Positions as of

Tuesday, March 10, 2015

 

Gold COT Report - Futures & Options Combined

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

187,299

90,070

155,269

242,346

348,053

584,915

593,392

Change from Prior Reporting Period

-7,894

23,390

12,694

25,130

-6,262

29,930

29,821

Traders

158

114

131

57

54

283

238

 

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

45,852

37,374

630,766

 

 

 

1,854

1,963

31,784

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Gold Report - Positions as of

Tuesday, March 10, 2015

 

Silver COT Report: Futures

Large Speculators

Commercial

Long

Short

Spreading

Long

Short

57,966

31,994

23,489

65,853

99,116

1,624

6,859

880

2,400

-4,049

Traders

80

50

44

41

43

Small Speculators

Open Interest

Total

Long

Short

169,125

Long

Short

21,817

14,526

147,308

154,599

203

1,417

5,107

4,904

3,690

non reportable positions

Positions as of:

142

120

 

Tuesday, March 10, 2015

  © SilverSeek.com  

 

Silver COT Report: Futures & Options Combined

Large Speculators

Commercial

Long

Short

Spreading

Long

Short

57,561

31,923

42,139

90,145

123,582

1,150

6,876

2,032

4,183

-2,622

Traders

88

49

63

48

49

Small Speculators

Open Interest

Total

Long

Short

213,018

Long

Short

23,174

15,374

189,845

197,645

360

1,440

7,725

7,365

6,286

non reportable positions

Positions as of:

161

141

 

Tuesday, March 10, 2015

  © SilverSeek.com  

 

US Dollar Index COT Report - Futures

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

97,139

15,869

14,822

15,079

114,813

127,040

145,504

11,426

-2,626

11,876

969

14,259

24,271

23,509

Traders

214

21

15

16

9

238

38

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

21,446

2,982

148,486

 

 

 

234

996

24,505

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Silver Report - Positions as of

Tuesday, March 10, 2015

 

US Dollar Index COT Report - Futures & Options Combined

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

97,139

15,929

14,909

15,180

114,975

127,228

145,813

11,425

-2,822

11,732

744

14,251

23,901

23,161

Traders

214

21

16

16

9

239

38

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

21,638

3,053

148,866

 

 

 

208

948

24,109

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Silver Report - Positions as of

Tuesday, March 10, 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, 13 March 2015 | E-Mail  | Print  | Source: GoldSeek.com

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