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COT Gold, Silver and US Dollar Index Report - May 12, 2017

 -- Published: Friday, 12 May 2017 | Print  | Disqus 

Gold COT Report - Futures

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

236,115

86,109

46,859

104,960

269,382

387,934

402,350

Change from Prior Reporting Period

-39,917

-289

4,822

5,906

-33,658

-29,189

-29,125

Traders

157

103

89

46

53

244

211

 

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

45,099

30,683

433,033

 

 

 

317

253

-28,872

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Gold Report - Positions as of

Tuesday, May 09, 2017

 

Gold COT Report - Futures & Options Combined

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

222,393

81,007

167,130

197,083

354,434

586,606

602,572

Change from Prior Reporting Period

-47,089

-3,468

15,937

10,332

-32,649

-20,820

-20,180

Traders

183

109

154

54

57

305

259

 

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

50,953

34,988

637,559

 

 

 

1,870

1,229

-18,950

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Gold Report - Positions as of

Tuesday, May 09, 2017

 

Silver COT Report: Futures

Large Speculators

Commercial

Long

Short

Spreading

Long

Short

94,982

41,327

22,955

48,400

117,669

-6,556

11,156

6,497

4,669

-12,636

Traders

100

50

47

41

36

Small Speculators

Open Interest

Total

Long

Short

196,083

Long

Short

29,746

14,132

166,337

181,951

2,233

1,826

6,843

4,610

5,017

non reportable positions

Positions as of:

158

119

 

Tuesday, May 09, 2017

  © SilverSeek.com  

 

Silver COT Report: Futures & Options Combined

Large Speculators

Commercial

Long

Short

Spreading

Long

Short

94,818

40,757

34,927

54,547

125,639

-6,951

10,800

8,931

5,444

-11,501

Traders

116

52

76

42

41

Small Speculators

Open Interest

Total

Long

Short

216,680

Long

Short

32,388

15,358

184,292

201,322

2,878

2,072

10,302

7,424

8,230

non reportable positions

Positions as of:

184

146

 

Tuesday, May 09, 2017

  © SilverSeek.com  

 

US Dollar Index COT Report - Futures

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

48,718

12,969

2,643

13,821

55,790

65,182

71,402

-1,739

2,532

471

1,051

-2,472

-217

531

Traders

94

28

15

12

8

113

47

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

9,622

3,402

74,804

 

 

 

1,153

405

936

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Silver Report - Positions as of

Tuesday, May 09, 2017

 

US Dollar Index COT Report - Futures & Options Combined

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

48,720

13,001

2,776

13,831

55,802

65,327

71,579

-1,682

2,563

342

1,046

-2,472

-294

433

Traders

95

29

18

13

9

116

51

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

9,677

3,424

75,003

 

 

 

1,128

400

833

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Silver Report - Positions as of

Tuesday, May 09, 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, 12 May 2017 | E-Mail  | Print  | Source: GoldSeek.com

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