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COT Gold, Silver and US Dollar Index Report - September 8, 2017

 -- Published: Friday, 8 September 2017 | Print  | Disqus 

Gold COT Report - Futures

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

336,073

90,775

54,858

125,145

386,952

516,076

532,585

Change from Prior Reporting Period

17,190

2,939

877

6,115

19,893

24,182

23,709

Traders

188

102

76

53

64

272

216

 

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

50,741

34,232

566,817

 

 

 

3,760

4,233

27,942

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Gold Report - Positions as of

Tuesday, September 5, 2017

 

Gold COT Report - Futures & Options Combined

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

349,610

84,689

213,490

240,315

520,878

803,415

819,056

Change from Prior Reporting Period

20,435

1,953

23,415

21,151

38,743

65,001

64,111

Traders

210

113

145

57

70

324

275

 

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

56,843

41,202

860,258

 

 

 

5,099

5,989

70,100

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Gold Report - Positions as of

Tuesday, September 5, 2017

 

Silver COT Report: Futures

Large Speculators

Commercial

Long

Short

Spreading

Long

Short

96,374

32,203

13,591

47,489

124,177

3,444

-7,082

701

-3,990

7,110

Traders

94

48

35

29

39

Small Speculators

Open Interest

Total

Long

Short

183,276

Long

Short

25,822

13,305

157,454

169,971

298

-276

453

155

729

non reportable positions

Positions as of:

144

105

 

Tuesday, September 5, 2017

  © SilverSeek.com  

 

Silver COT Report: Futures & Options Combined

Large Speculators

Commercial

Long

Short

Spreading

Long

Short

94,111

31,688

29,270

56,559

133,043

2,424

-7,695

4,766

-2,591

8,321

Traders

105

56

68

36

45

Small Speculators

Open Interest

Total

Long

Short

208,863

Long

Short

28,922

14,862

179,941

194,001

751

-43

5,350

4,599

5,393

non reportable positions

Positions as of:

179

135

 

Tuesday, September 5, 2017

  © SilverSeek.com  

 

US Dollar Index COT Report - Futures

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

26,830

30,774

6,437

13,363

16,016

46,630

53,227

-4,521

-3,631

2,266

-306

-447

-2,561

-1,812

Traders

83

55

19

11

8

103

77

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

9,198

2,601

55,828

 

 

 

307

-442

-2,254

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Silver Report - Positions as of

Tuesday, September 5, 2017

 

US Dollar Index COT Report - Futures & Options Combined

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

26,920

30,813

6,455

13,387

16,018

46,762

53,286

-4,515

-3,636

2,268

-308

-447

-2,555

-1,815

Traders

84

57

20

11

8

105

79

 

Small Speculators

 

 

 

 

Long

Short

Open Interest

 

 

 

9,292

2,768

56,054

 

 

 

310

-430

-2,245

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Silver Report - Positions as of

Tuesday, September 5, 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, 8 September 2017 | E-Mail  | Print  | Source: GoldSeek.com

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