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COT Gold, Silver and US Dollar Index Report - September 16, 2016

 -- Published: Friday, 16 September 2016 | Print  | Disqus 

Gold COT Report - Futures

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

351,776

66,363

52,492

116,841

428,212

521,109

547,067

Change from Prior Reporting Period

-18,599

3,848

-3,380

6,371

-12,231

-15,608

-11,763

Traders

197

95

86

51

61

292

207

 

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

53,893

27,935

575,002

 

 

 

-46

-3,891

-15,654

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Gold Report - Positions as of

Tuesday, September 13, 2016

 

Gold COT Report - Futures & Options Combined

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

359,951

57,625

187,272

200,498

529,835

747,721

774,732

Change from Prior Reporting Period

-27,452

345

-2,306

4,511

-18,688

-25,247

-20,649

Traders

229

95

149

59

66

343

263

 

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

58,387

31,376

806,108

 

 

 

17

-4,581

-25,230

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Gold Report - Positions as of

Tuesday, September 13, 2016

 

Silver COT Report: Futures

Large Speculators

Commercial

Long

Short

Spreading

Long

Short

113,792

32,224

8,174

45,479

142,154

-4,267

2,193

-640

-491

-3,398

Traders

115

47

32

33

37

Small Speculators

Open Interest

Total

Long

Short

193,953

Long

Short

26,508

11,401

167,445

182,552

154

-3,399

-5,244

-5,398

-1,845

non reportable positions

Positions as of:

161

106

 

Tuesday, September 13, 2016

  © SilverSeek.com  

 

Silver COT Report: Futures & Options Combined

Large Speculators

Commercial

Long

Short

Spreading

Long

Short

115,320

30,545

25,334

51,588

151,948

-5,710

1,655

-282

-338

-3,791

Traders

125

51

63

41

43

Small Speculators

Open Interest

Total

Long

Short

220,570

Long

Short

28,327

12,743

192,242

207,827

23

-3,890

-6,308

-6,330

-2,418

non reportable positions

Positions as of:

189

137

 

Tuesday, September 13, 2016

  © SilverSeek.com  

 

US Dollar Index COT Report - Futures

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

34,343

17,269

5,514

7,899

30,445

47,756

53,228

615

502

-2,762

569

205

-1,578

-2,055

Traders

72

30

21

10

11

93

56

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

7,745

2,273

55,501

 

 

 

-1,090

-613

-2,668

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Silver Report - Positions as of

Tuesday, September 13, 2016

 

US Dollar Index COT Report - Futures & Options Combined

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

34,459

17,453

5,613

8,007

30,507

48,080

53,574

640

468

-2,761

509

216

-1,612

-2,076

Traders

70

32

24

10

11

94

58

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

7,806

2,311

55,885

 

 

 

-1,077

-613

-2,690

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Silver Report - Positions as of

Tuesday, September 13, 2016

  

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, 16 September 2016 | E-Mail  | Print  | Source: GoldSeek.com

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