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COT Gold, Silver and US Dollar Index Report - April 10, 2020

 -- Published: Friday, 10 April 2020 | Print  | Disqus 

Gold COT Report - Futures

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

279,880

30,938

29,821

118,885

394,496

428,586

455,255

Change from Prior Reporting Period

-7,649

2,258

-2,523

-9,198

-17,546

-19,370

-17,811

Traders

192

59

69

55

53

276

154

 

 

Small Speculators

  © GoldSeek.com 

 

 

 

Long

Short

Open Interest

 

 

 

51,464

24,795

480,050

 

 

 

3,768

2,209

-15,602

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Gold Report - Positions as of

Tuesday, April 7, 2020

 

Gold COT Report - Futures & Options Combined

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

308,039

32,377

323,723

363,806

667,648

995,569

1,023,748

Change from Prior Reporting Period

7,898

648

31,540

17,114

25,836

56,552

58,023

Traders

214

70

130

62

61

319

219

 

 

Small Speculators

  © GoldSeek.com 

 

 

 

Long

Short

Open Interest

 

 

 

58,178

29,999

1,053,747

 

 

 

4,570

3,098

61,121

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Gold Report - Positions as of

Tuesday, April 7, 2020

 

Silver COT Report: Futures

Large Speculators

Commercial

Long

Short

Spreading

Long

Short

46,471

16,754

7,286

63,121

106,108

-579

582

-58

-1,690

-3

Traders

78

31

45

36

39

Small Speculators

Open Interest

Total

Long

Short

138,974

Long

Short

22,096

8,826

116,878

130,148

2,045

-803

-282

-2,327

521

non reportable positions

Positions as of:

134

99

 

Tuesday, April 7, 2020

  © SilverSeek.com  

 

Silver COT Report: Futures & Options Combined

Large Speculators

Commercial

Long

Short

Spreading

Long

Short

45,041

17,471

39,450

82,314

124,197

-29

771

336

-2,418

-157

Traders

90

35

71

40

45

Small Speculators

Open Interest

Total

Long

Short

191,261

Long

Short

24,455

10,143

166,806

181,118

2,329

-732

218

-2,111

950

non reportable positions

Positions as of:

154

131

 

Tuesday, April 7, 2020

  © SilverSeek.com  

 

US Dollar Index COT Report - Futures

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

22,818

7,794

752

2,059

18,283

25,629

26,829

-134

-1,093

74

-14

539

-74

-480

Traders

31

19

7

6

6

40

30

 

Small Speculators

  © GoldSeek.com 

 

 

 

Long

Short

Open Interest

 

 

 

3,067

1,867

28,696

 

 

 

-202

204

-276

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Silver Report - Positions as of

Tuesday, April 7, 2020

 

US Dollar Index COT Report - Futures & Options Combined

Large Speculators

Commercial

Total

Long

Short

Spreading

Long

Short

Long

Short

22,823

7,796

765

2,067

18,301

25,655

26,862

-130

-1,092

71

-16

541

-75

-480

Traders

31

21

7

6

6

41

31

 

Small Speculators

  © GoldSeek.com 

 

 

 

Long

Short

Open Interest

 

 

 

3,082

1,875

28,737

 

 

 

-203

202

-278

 

 

 

non reportable positions

Change from the previous reporting period

 

COT Silver Report - Positions as of

Tuesday, April 7, 2020

 

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, 10 April 2020 | E-Mail  | Print  | Source: GoldSeek.com

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