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COT Gold, Silver and US Dollar Index Report - May 26, 2017

 -- Published: Friday, 26 May 2017 | Print  | Disqus 

Gold COT Report - Futures

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

241,752

81,985

63,428

112,114

286,405

417,294

431,818

Change from Prior Reporting Period

20,220

-12,823

8,769

-1,605

29,827

27,384

25,773

Traders

167

95

97

51

59

259

217

 

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

45,278

30,754

462,572

 

 

 

167

1,778

27,551

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Gold Report - Positions as of

Tuesday, May 23, 2017

 

Gold COT Report - Futures & Options Combined

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

239,655

80,045

189,284

218,469

393,450

647,409

662,779

Change from Prior Reporting Period

28,950

-10,404

16,515

12,414

49,228

57,879

55,339

Traders

194

101

156

54

65

306

271

 

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

50,193

34,822

697,601

 

 

 

-509

2,030

57,369

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Gold Report - Positions as of

Tuesday, May 23, 2017

 

Silver COT Report: Futures

Large Speculators

Commercial

Long

Short

Spreading

Long

Short

96,531

45,358

27,962

53,195

117,182

-3,611

-11,780

-2,371

-2,417

4,233

Traders

102

52

46

35

37

Small Speculators

Open Interest

Total

Long

Short

203,459

Long

Short

25,771

12,957

177,688

190,502

-3,269

-1,750

-11,668

-8,399

-9,918

non reportable positions

Positions as of:

155

122

 

Tuesday, May 23, 2017

  © SilverSeek.com  

 

Silver COT Report: Futures & Options Combined

Large Speculators

Commercial

Long

Short

Spreading

Long

Short

95,911

45,127

42,018

60,955

125,337

-3,862

-11,571

-307

-696

5,056

Traders

115

56

79

38

40

Small Speculators

Open Interest

Total

Long

Short

227,086

Long

Short

28,202

14,604

198,884

212,482

-3,355

-1,397

-8,219

-4,864

-6,822

non reportable positions

Positions as of:

185

148

 

Tuesday, May 23, 2017

  © SilverSeek.com  

 

US Dollar Index COT Report - Futures

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

54,832

23,508

2,718

18,483

55,785

76,033

82,011

3,337

6,288

336

3,080

-18

6,753

6,606

Traders

80

40

17

14

8

103

59

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

9,103

3,125

85,136

 

 

 

333

480

7,086

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Silver Report - Positions as of

Tuesday, May 23, 2017

 

US Dollar Index COT Report - Futures & Options Combined

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

54,835

23,562

2,835

18,495

55,796

76,165

82,193

3,334

6,296

353

3,082

-17

6,770

6,632

Traders

82

41

20

15

9

106

64

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

9,169

3,142

85,334

 

 

 

341

479

7,111

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Silver Report - Positions as of

Tuesday, May 23, 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, 26 May 2017 | E-Mail  | Print  | Source: GoldSeek.com

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