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COT Gold, Silver and US Dollar Index Report - September 11, 2015

 -- Published: Friday, 11 September 2015 | Print  | Disqus 

Gold COT Report - Futures

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

183,615

124,322

48,883

155,620

211,599

388,118

384,804

Change from Prior Reporting Period

862

14,254

1,293

8,755

-4,354

10,910

11,193

Traders

119

121

93

48

53

213

229

 

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

33,614

36,928

421,732

 

 

 

548

265

11,458

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Gold Report - Positions as of

Tuesday, September 8, 2015

 

Gold COT Report - Futures & Options Combined

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

181,817

122,008

159,382

238,385

295,103

579,585

576,493

Change from Prior Reporting Period

-3,578

14,386

1,876

9,121

-8,603

7,419

7,659

Traders

150

136

129

55

57

269

266

 

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

37,091

40,183

616,676

 

 

 

584

344

8,003

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Gold Report - Positions as of

Tuesday, September 8, 2015

 

Silver COT Report: Futures

Large Speculators

Commercial

Long

Short

Spreading

Long

Short

58,761

40,020

14,944

60,995

86,555

895

-374

-130

-2,072

922

Traders

76

56

40

40

40

Small Speculators

Open Interest

Total

Long

Short

155,615

Long

Short

20,915

14,096

134,700

141,519

-91

-1,816

-1,398

-1,307

418

non reportable positions

Positions as of:

131

124

 

Tuesday, September 8, 2015

  © SilverSeek.com  

 

Silver COT Report: Futures & Options Combined

Large Speculators

Commercial

Long

Short

Spreading

Long

Short

57,452

39,535

32,004

76,617

80,994

132

-766

780

-2,073

-7,454

Traders

87

58

63

43

42

Small Speculators

Open Interest

Total

Long

Short

143,447

Long

Short

22,191

15,311

166,073

172,953

-51

-1,691

-1,212

-1,161

479

non reportable positions

Positions as of:

154

144

 

Tuesday, September 8, 2015

  © SilverSeek.com  

US Dollar Index COT Report - Futures

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

63,250

9,851

3,187

18,494

78,216

84,931

91,254

2,487

283

-1,586

-163

2,120

738

817

Traders

96

27

14

11

7

116

43

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

9,353

3,030

94,284

 

 

 

-6,685

-6,764

-5,947

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Silver Report - Positions as of

Tuesday, September 8, 2015

 

US Dollar Index COT Report - Futures & Options Combined

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

63,243

9,943

3,251

18,610

78,257

85,104

91,452

2,625

422

-1,828

-177

2,065

620

659

Traders

95

29

17

11

7

118

45

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

9,411

3,063

94,515

 

 

 

-6,734

-6,773

-6,114

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Silver Report - Positions as of

Tuesday, September 8, 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 the commodity [gold or silver in this case].   The numbers referred to above are therefore the number of 100-ounce 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 September 2015 | E-Mail  | Print  | Source: GoldSeek.com

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