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COT Gold, Silver and US Dollar Index Report - December 9, 2016

 -- Published: Friday, 9 December 2016 | Print  | Disqus 

Gold COT Report - Futures

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

227,675

91,295

33,973

86,237

241,181

347,885

366,449

Change from Prior Reporting Period

-2,056

13,134

-3,762

-6,391

-19,270

-12,209

-9,898

Traders

157

82

79

49

46

233

185

 

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

45,639

27,075

393,524

 

 

 

72

-2,239

-12,137

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Gold Report - Positions as of

Tuesday, December 06, 2016

 

Gold COT Report - Futures & Options Combined

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

219,675

92,020

161,657

175,823

323,956

557,155

577,633

Change from Prior Reporting Period

-3,348

11,702

9,633

-12

-11,866

6,273

9,470

Traders

179

100

141

58

53

290

246

 

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

51,011

30,534

608,167

 

 

 

1,049

-2,147

7,323

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Gold Report - Positions as of

Tuesday, December 06, 2016

 

Silver COT Report: Futures

Large Speculators

Commercial

Long

Short

Spreading

Long

Short

81,495

22,130

8,603

43,081

118,821

2,010

1,685

-441

1,175

1,470

Traders

94

44

37

32

40

Small Speculators

Open Interest

Total

Long

Short

159,337

Long

Short

26,158

9,783

133,179

149,554

-33

-3

2,711

2,744

2,714

non reportable positions

Positions as of:

144

107

 

Tuesday, December 06, 2016

  © SilverSeek.com  

 

Silver COT Report: Futures & Options Combined

Large Speculators

Commercial

Long

Short

Spreading

Long

Short

81,138

21,877

19,358

47,772

124,241

1,685

1,643

23

1,396

1,551

Traders

99

50

58

37

45

Small Speculators

Open Interest

Total

Long

Short

176,146

Long

Short

27,877

10,670

148,268

165,476

125

13

3,230

3,104

3,217

non reportable positions

Positions as of:

165

127

 

Tuesday, December 06, 2016

  © SilverSeek.com  

 

US Dollar Index COT Report - Futures

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

66,444

11,842

5,688

9,335

70,871

81,467

88,401

-1,598

-2,797

510

-39

1,687

-1,127

-600

Traders

112

25

19

10

9

133

46

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

11,844

4,910

93,311

 

 

 

2,282

1,755

1,155

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Silver Report - Positions as of

Tuesday, December 06, 2016

 

US Dollar Index COT Report - Futures & Options Combined

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

66,403

11,915

6,386

9,700

71,140

82,488

89,440

-1,546

-2,759

595

-37

1,726

-988

-438

Traders

112

25

24

10

9

136

48

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

12,136

5,184

94,624

 

 

 

2,410

1,860

1,422

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Silver Report - Positions as of

Tuesday, December 06, 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, 9 December 2016 | E-Mail  | Print  | Source: GoldSeek.com

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