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COT Gold, Silver and US Dollar Index Report - November 28, 2016

 -- Published: Monday, 28 November 2016 | Print  | Disqus 

Gold COT Report - Futures

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

241,646

74,561

68,746

97,975

290,147

408,367

433,454

Change from Prior Reporting Period

-4,104

6,471

-310

-17,216

-25,010

-21,630

-18,849

Traders

143

95

73

52

54

232

190

 

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

52,695

27,608

461,062

 

 

 

3,455

674

-18,175

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Gold Report - Positions as of

Tuesday, November 22, 2016

 

Gold COT Report - Futures & Options Combined

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

235,809

77,094

169,596

174,665

360,454

580,070

607,145

Change from Prior Reporting Period

-5,903

10,121

-33,094

-38,009

-51,538

-77,007

-74,512

Traders

169

102

132

58

56

284

237

 

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

54,013

26,939

634,083

 

 

 

-1,316

-3,811

-78,323

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Gold Report - Positions as of

Tuesday, November 22, 2016

 

Silver COT Report: Futures

Large Speculators

Commercial

Long

Short

Spreading

Long

Short

81,835

21,668

11,493

46,804

125,036

-3,740

-1,301

881

-4,555

-4,844

Traders

90

45

45

42

37

Small Speculators

Open Interest

Total

Long

Short

169,661

Long

Short

29,529

11,464

140,132

158,197

2,244

94

-5,170

-7,414

-5,264

non reportable positions

Positions as of:

157

109

 

Tuesday, November 22, 2016

  © SilverSeek.com  

 

Silver COT Report: Futures & Options Combined

Large Speculators

Commercial

Long

Short

Spreading

Long

Short

82,465

21,973

20,914

51,218

130,716

-5,434

-529

-4,091

-6,133

-8,523

Traders

94

51

65

44

41

Small Speculators

Open Interest

Total

Long

Short

185,304

Long

Short

30,707

11,701

154,598

173,603

1,606

-909

-14,053

-15,658

-13,144

non reportable positions

Positions as of:

174

127

 

Tuesday, November 22, 2016

  © SilverSeek.com  

 

US Dollar Index COT Report - Futures

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

72,226

19,037

2,800

9,539

68,678

84,565

90,515

11,476

6,715

103

237

6,136

11,816

12,954

Traders

114

29

12

8

9

128

46

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

9,400

3,450

93,965

 

 

 

979

-159

12,795

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Silver Report - Positions as of

Tuesday, November 22, 2016

 

US Dollar Index COT Report - Futures & Options Combined

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

72,132

19,130

3,386

9,879

68,878

85,397

91,394

11,388

6,664

279

288

6,165

11,954

13,108

Traders

114

30

22

8

9

134

51

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

9,545

3,548

94,942

 

 

 

967

-186

12,922

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Silver Report - Positions as of

Tuesday, November 22, 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: Monday, 28 November 2016 | E-Mail  | Print  | Source: GoldSeek.com

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