Precious Metals Preview: Fund Buying Picks Up In Silver

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Large precious metals speculators increased their net long positions in the Silver futures markets last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC). The non-commercial futures contracts of Silver futures, traded by large speculators and hedge funds, totaled a net position of 36424 net contracts in the data reported through April 12th 2021. This was a weekly rise of 4109 net contracts from the previous week and pushed up the net longs to one month high. The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -55502 contracts on the week. This was a weekly change of -4917 net contracts.

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