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COT Gold, Silver and US Dollar Index Report - March 3, 2017

 -- Published: Friday, 3 March 2017 | Print  | Disqus 

Gold COT Report - Futures

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

247,494

83,696

54,410

100,180

280,087

402,084

418,193

Change from Prior Reporting Period

27,821

-12,214

-8,880

-3,681

36,662

15,260

15,568

Traders

165

89

73

42

48

238

182

 

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

43,997

27,888

446,081

 

 

 

3,653

3,345

18,913

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Gold Report - Positions as of

Tuesday, February 28, 2017

 

Gold COT Report - Futures & Options Combined

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

250,708

82,604

175,064

182,048

366,458

607,819

624,126

Change from Prior Reporting Period

28,827

-10,023

-18,861

-9,158

30,343

808

1,459

Traders

191

101

136

52

56

299

240

 

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

48,669

32,362

656,489

 

 

 

4,190

3,539

4,998

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Gold Report - Positions as of

Tuesday, February 28, 2017

 

Silver COT Report: Futures

Large Speculators

Commercial

Long

Short

Spreading

Long

Short

115,229

19,806

8,521

50,081

158,091

6,381

-1,025

-13,625

-1,853

3,924

Traders

100

33

34

33

39

Small Speculators

Open Interest

Total

Long

Short

197,629

Long

Short

23,798

11,211

173,831

186,418

-1,421

208

-10,518

-9,097

-10,726

non reportable positions

Positions as of:

145

97

 

Tuesday, February 28, 2017

  © SilverSeek.com  

 

Silver COT Report: Futures & Options Combined

Large Speculators

Commercial

Long

Short

Spreading

Long

Short

114,273

19,438

19,019

55,764

163,534

7,320

-733

-16,517

-2,523

3,514

Traders

103

42

56

37

43

Small Speculators

Open Interest

Total

Long

Short

214,558

Long

Short

25,503

12,568

189,056

201,991

-1,764

252

-13,484

-11,720

-13,736

non reportable positions

Positions as of:

165

119

 

Tuesday, February 28, 2017

  © SilverSeek.com  

 

US Dollar Index COT Report - Futures

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

52,631

7,821

2,865

10,116

61,315

65,612

72,001

-25

979

-31

129

-458

73

490

Traders

101

25

16

13

9

120

46

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

9,297

2,908

74,909

 

 

 

34

-383

107

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Silver Report - Positions as of

Tuesday, February 28, 2017

 

US Dollar Index COT Report - Futures & Options Combined

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

52,586

7,781

3,311

10,193

61,416

66,090

72,508

-218

754

138

116

-453

37

439

Traders

104

27

19

14

9

125

50

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

9,373

2,955

75,463

 

 

 

21

-381

58

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Silver Report - Positions as of

Tuesday, February 28, 2017

  

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, 3 March 2017 | E-Mail  | Print  | Source: GoldSeek.com

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