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COT Gold, Silver and US Dollar Index Report - August 11, 2017

 -- Published: Friday, 11 August 2017 | Print  | Disqus 

Gold COT Report - Futures

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

246,377

97,540

36,408

125,168

284,679

407,953

418,627

Change from Prior Reporting Period

6,611

-12,554

-3,589

-1,723

14,403

1,299

-1,740

Traders

152

94

79

57

56

241

201

 

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

40,774

30,100

448,727

 

 

 

-1,281

1,758

18

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Gold Report - Positions as of

Tuesday, August 8, 2017

 

Gold COT Report - Futures & Options Combined

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

244,193

94,351

144,375

204,842

365,459

593,410

604,184

Change from Prior Reporting Period

-142

-14,344

-6,747

-6,506

4,855

-13,395

-16,236

Traders

178

105

140

61

64

299

253

 

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

44,316

33,543

637,727

 

 

 

-1,664

1,177

-15,059

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Gold Report - Positions as of

Tuesday, August 8, 2017

 

Silver COT Report - Futures

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

91,345

57,481

21,600

59,273

98,834

172,218

177,915

-914

-4,019

-9,418

-1,320

-1,426

-11,652

-14,863

Traders

91

56

43

36

37

144

122

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

22,945

17,248

195,163

 

 

 

-443

2,768

-12,095

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Silver Report - Positions as of

Tuesday, August 8, 2017

 

Silver COT Report - Futures & Options Combined

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

90,258

57,613

33,939

67,187

106,660

191,384

198,212

-1,417

-4,017

-9,027

-682

-1,501

-11,126

-14,545

Traders

99

64

71

40

42

173

146

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

25,490

18,662

216,874

 

 

 

-712

2,707

-11,837

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Silver Report - Positions as of

Tuesday, August 8, 2017

 

US Dollar Index COT Report - Futures

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

27,332

30,016

3,255

12,510

16,550

43,097

49,821

1

1,118

339

-237

30

103

1,487

Traders

79

53

17

10

7

101

69

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

9,651

2,927

52,748

 

 

 

1,221

-163

1,324

 

 

 

non reportable positions

Change from the previous reporting period

 

COT US Dollar Index Report - Positions as of

Tuesday, August 8, 2017

 

 

US Dollar Index COT Report - Futures & Options Combined

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

27,386

30,078

3,289

12,525

16,557

43,199

49,924

28

1,107

299

-246

32

81

1,438

Traders

82

55

18

10

7

104

72

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

9,730

3,005

52,929

 

 

 

1,230

-126

1,311

 

 

 

non reportable positions

Change from the previous reporting period

 

COT US Dollar Index Report - Positions as of

Tuesday, August 8, 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 the commodity [gold or silver in this case].   The numbers referred to above are therefore the number of 100-ounce 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, 11 August 2017 | E-Mail  | Print  | Source: GoldSeek.com

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