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COT Gold, Silver and US Dollar Index Report - August 25, 2017

 -- Published: Friday, 25 August 2017 | Print  | Disqus 

Gold COT Report - Futures

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

295,711

87,273

37,626

125,036

344,954

458,373

469,853

Change from Prior Reporting Period 

17,981

-2,723

-67

2,898

26,185

20,812

23,395

Traders

165

107

73

52

59

251

211

 

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

42,070

30,590

500,443

 

 

 

1,710

-873

22,522

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Gold Report - Positions as of 

Tuesday, August 22, 2017

 

Gold COT Report - Futures & Options Combined

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

294,775

79,323

177,968

221,894

448,479

694,637

705,769

Change from Prior Reporting Period 

18,008

-5,612

15,583

11,021

37,249

44,612

47,220

Traders

198

111

154

58

68

320

275

 

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

46,818

35,686

741,455

 

 

 

2,525

-84

47,136

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Gold Report - Positions as of 

Tuesday, August 22, 2017

 

Silver COT Report: Futures

Large Speculators

Commercial

Long

Short

Spreading

Long

Short

91,305

46,759

16,932

55,060

110,109

-291

-5,986

836

-858

6,103

Traders

88

61

52

38

42

Small Speculators

Open Interest

Total

Long

Short

187,227

Long

Short

23,930

13,427

163,297

173,800

-415

-1,681

-728

-313

953

non reportable positions

Positions as of:

156

130

 

Tuesday, August 22, 2017

  © SilverSeek.com   

 

Silver COT Report: Futures & Options Combined

Large Speculators

Commercial

Long

Short

Spreading

Long

Short

90,558

46,696

31,149

64,252

119,441

-88

-5,976

1,211

-439

6,524

Traders

97

71

80

40

44

Small Speculators

Open Interest

Total

Long

Short

212,586

Long

Short

26,627

15,300

185,959

197,286

-452

-1,527

232

684

1,759

non reportable positions

Positions as of:

185

152

 

Tuesday, August 22, 2017

  © SilverSeek.com   

 

US Dollar Index COT Report - Futures

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

27,328

28,764

3,674

12,273

16,943

43,275

49,381

676

-12

365

633

489

1,674

842

Traders

85

51

16

10

8

104

68

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

9,104

2,998

52,379

 

 

 

-558

274

1,116

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Silver Report - Positions as of 

Tuesday, August 22, 2017

 

US Dollar Index COT Report - Futures & Options Combined

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

27,374

28,817

3,698

12,282

16,947

43,354

49,462

676

-11

352

633

486

1,661

827

Traders

88

53

17

10

8

107

71

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

9,181

3,073

52,535

 

 

 

-560

274

1,101

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Silver Report - Positions as of 

Tuesday, August 22, 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, 25 August 2017 | E-Mail  | Print  | Source: GoldSeek.com

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