Select Page

By InvestMacro

Here are the latest charts and statistics for the Commitment of Traders (COT) data published by the Commodities Futures Trading Commission (CFTC).

The latest COT data is updated through Tuesday August 20th and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.

Gold leads Speculator Bets higher

Metals Futures Large Speculator Net Position Changes 2

The COT metals markets speculator bets were overall higher this week as five out of the six metals markets we cover had higher positioning while the other one markets had lower speculator contracts.

Leading the gains for the metals was Gold (23,989 contracts) with Copper (4,477 contracts), Silver (4,035 contracts), Platinum (2,887 contracts) and Steel (750 contracts) also showing positive weeks.

The market with declines in speculator bets was Palladium with a small dip by -41 contracts on the week.


Metals Net Speculators Leaderboard

metals leaders 2

Legend: Weekly Speculators Change | Speculators Current Net Position | Speculators Strength Score compared to last 3-Years (0-100 range)


Strength Scores led by Gold & Silver

Metals Speculator Strength Score 3 YR Range 2

COT Strength Scores (a normalized measure of Speculator positions over a 3-Year range, from 0 to 100 where above 80 is Extreme-Bullish and below 20 is Extreme-Bearish) showed that Gold (100 percent) and Silver (84 percent) lead the metals markets this week. Steel (77 percent) comes in as the next highest in the weekly strength scores.

On the downside, Palladium (12 percent) comes in at the lowest strength level currently and is in Extreme-Bearish territory (below 20 percent).

Strength Statistics:
Gold (100.0 percent) vs Gold previous week (90.0 percent)
Silver (84.1 percent) vs Silver previous week (78.6 percent)
Copper (52.1 percent) vs Copper previous week (48.0 percent)
Platinum (57.6 percent) vs Platinum previous week (49.9 percent)
Palladium (12.0 percent) vs Palladium previous week (12.3 percent)
Steel (76.6 percent) vs Palladium previous week (73.7 percent)


Gold & Steel top the 6-Week Strength Trends

Metals Speculator Strength Trend 6 Weeks 2

COT Strength Score Trends (or move index, calculates the 6-week changes in strength scores) showed that Gold (15 percent) and Steel (3 percent) lead the past six weeks trends for metals.

Copper (-33 percent), Platinum (-21 percent) and Palladium (-20 percent) lead the downside trend scores currently.

Move Statistics:
Gold (15.3 percent) vs Gold previous week (10.8 percent)
Silver (-15.9 percent) vs Silver previous week (-14.3 percent)
Copper (-33.3 percent) vs Copper previous week (-31.1 percent)
Platinum (-20.9 percent) vs Platinum previous week (-32.1 percent)
Palladium (-19.7 percent) vs Palladium previous week (-11.2 percent)
Steel (3.3 percent) vs Steel previous week (-0.6 percent)


Individual Markets:

Gold Comex Futures:

Gold Futures COT ChartThe Gold Comex Futures large speculator standing this week reached a net position of 291,253 contracts in the data reported through Tuesday. This was a weekly rise of 23,989 contracts from the previous week which had a total of 267,264 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish-Extreme with a score of 100.0 percent. The commercials are Bearish-Extreme with a score of 0.0 percent and the small traders (not shown in chart) are Bullish with a score of 62.1 percent.

Price Trend-Following Model: Strong Uptrend

Our weekly trend-following model classifies the current market price position as: Strong Uptrend. The current action for the model is considered to be: Hold – Maintain Long Position.

Gold Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 66.7 16.2 9.9
– Percent of Open Interest Shorts: 12.1 75.6 5.2
– Net Position: 291,253 -316,506 25,253
– Gross Longs: 355,551 86,232 52,918
– Gross Shorts: 64,298 402,738 27,665
– Long to Short Ratio: 5.5 to 1 0.2 to 1 1.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 100.0 0.0 62.1
– Strength Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 15.3 -14.1 -2.2

 


Silver Comex Futures:

Silver Futures COT ChartThe Silver Comex Futures large speculator standing this week reached a net position of 49,324 contracts in the data reported through Tuesday. This was a weekly gain of 4,035 contracts from the previous week which had a total of 45,289 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish-Extreme with a score of 84.1 percent. The commercials are Bearish-Extreme with a score of 15.1 percent and the small traders (not shown in chart) are Bullish with a score of 76.7 percent.

Price Trend-Following Model: Strong Uptrend

Our weekly trend-following model classifies the current market price position as: Strong Uptrend. The current action for the model is considered to be: Hold – Maintain Long Position.

Silver Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 43.5 24.3 21.9
– Percent of Open Interest Shorts: 9.9 72.7 7.0
– Net Position: 49,324 -71,228 21,904
– Gross Longs: 63,930 35,699 32,230
– Gross Shorts: 14,606 106,927 10,326
– Long to Short Ratio: 4.4 to 1 0.3 to 1 3.1 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 84.1 15.1 76.7
– Strength Index Reading (3 Year Range): Bullish-Extreme Bearish-Extreme Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -15.9 15.1 -8.9

 


Copper Grade #1 Futures:

Copper Futures COT ChartThe Copper Grade #1 Futures large speculator standing this week reached a net position of 20,274 contracts in the data reported through Tuesday. This was a weekly advance of 4,477 contracts from the previous week which had a total of 15,797 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 52.1 percent. The commercials are Bearish with a score of 46.3 percent and the small traders (not shown in chart) are Bullish with a score of 64.5 percent.

Price Trend-Following Model: Strong Downtrend

Our weekly trend-following model classifies the current market price position as: Strong Downtrend. The current action for the model is considered to be: Hold – Maintain Short Position.

Copper Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 40.1 31.8 8.4
– Percent of Open Interest Shorts: 31.3 44.1 5.1
– Net Position: 20,274 -28,005 7,731
– Gross Longs: 91,835 72,874 19,316
– Gross Shorts: 71,561 100,879 11,585
– Long to Short Ratio: 1.3 to 1 0.7 to 1 1.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 52.1 46.3 64.5
– Strength Index Reading (3 Year Range): Bullish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -33.3 34.1 -22.9

 


Platinum Futures:

Platinum Futures COT ChartThe Platinum Futures large speculator standing this week reached a net position of 14,826 contracts in the data reported through Tuesday. This was a weekly boost of 2,887 contracts from the previous week which had a total of 11,939 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 57.6 percent. The commercials are Bearish with a score of 34.9 percent and the small traders (not shown in chart) are Bullish with a score of 72.9 percent.

Price Trend-Following Model: Strong Downtrend

Our weekly trend-following model classifies the current market price position as: Strong Downtrend. The current action for the model is considered to be: New Sell – Short Position.

Platinum Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 56.5 22.9 12.4
– Percent of Open Interest Shorts: 38.3 49.0 4.4
– Net Position: 14,826 -21,273 6,447
– Gross Longs: 45,980 18,616 10,054
– Gross Shorts: 31,154 39,889 3,607
– Long to Short Ratio: 1.5 to 1 0.5 to 1 2.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 57.6 34.9 72.9
– Strength Index Reading (3 Year Range): Bullish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -20.9 22.1 -8.0

 


Palladium Futures:

Palladium Futures COT ChartThe Palladium Futures large speculator standing this week reached a net position of -12,265 contracts in the data reported through Tuesday. This was a weekly decline of -41 contracts from the previous week which had a total of -12,224 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish-Extreme with a score of 12.0 percent. The commercials are Bullish-Extreme with a score of 88.9 percent and the small traders (not shown in chart) are Bullish with a score of 50.7 percent.

Price Trend-Following Model: Weak Downtrend

Our weekly trend-following model classifies the current market price position as: Weak Downtrend. The current action for the model is considered to be: Hold – Maintain Short Position.

Palladium Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 29.7 51.2 6.9
– Percent of Open Interest Shorts: 72.9 9.3 5.6
– Net Position: -12,265 11,908 357
– Gross Longs: 8,440 14,543 1,952
– Gross Shorts: 20,705 2,635 1,595
– Long to Short Ratio: 0.4 to 1 5.5 to 1 1.2 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 12.0 88.9 50.7
– Strength Index Reading (3 Year Range): Bearish-Extreme Bullish-Extreme Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -19.7 18.1 8.2

 


Steel Futures Futures:

Steel Futures COT ChartThe Steel Futures large speculator standing this week reached a net position of -5,171 contracts in the data reported through Tuesday. This was a weekly increase of 750 contracts from the previous week which had a total of -5,921 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 76.6 percent. The commercials are Bearish with a score of 24.5 percent and the small traders (not shown in chart) are Bearish with a score of 27.8 percent.

Price Trend-Following Model: Downtrend

Our weekly trend-following model classifies the current market price position as: Downtrend. The current action for the model is considered to be: Hold – Maintain Short Position.

Steel Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 12.9 77.0 0.7
– Percent of Open Interest Shorts: 34.2 55.4 0.9
– Net Position: -5,171 5,213 -42
– Gross Longs: 3,129 18,655 177
– Gross Shorts: 8,300 13,442 219
– Long to Short Ratio: 0.4 to 1 1.4 to 1 0.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 76.6 24.5 27.8
– Strength Index Reading (3 Year Range): Bullish Bearish Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 3.3 -3.5 7.3

 


Article By InvestMacroReceive our weekly COT Newsletter

*COT Report: The COT data, released weekly to the public each Friday, is updated through the most recent Tuesday (data is 3 days old) and shows a quick view of how large speculators or non-commercials (for-profit traders) were positioned in the futures markets.

The CFTC categorizes trader positions according to commercial hedgers (traders who use futures contracts for hedging as part of the business), non-commercials (large traders who speculate to realize trading profits) and nonreportable traders (usually small traders/speculators) as well as their open interest (contracts open in the market at time of reporting). See CFTC criteria here.


investmacro cot newsletter

  • COT Metals Charts: Gold leads Speculator Bets higher Aug 24, 2024
  • COT Bonds Charts: Speculator Bets led by Ultra Treasury Bonds & Ultra 10-Year Bonds Aug 24, 2024
  • COT Soft Commodities Charts: Speculator Bets led by Wheat & Soybean Oil Aug 24, 2024
  • COT Stock Market Charts: Speculator Bets led by DowJones & Nasdaq Aug 24, 2024
  • AUD/USD Sees Rebound: Weak US Dollar and RBA’s Steady Stance Support Strength Aug 23, 2024
  • The Bank of Japan is set to raise rates further. The Fed gov will speak at the annual symposium in Jackson Hole today Aug 23, 2024
  • The dovish FOMC minutes supported the growth of indices. The Australian index has been growing for 10 consecutive trading sessions Aug 22, 2024
  • USDJPY: Waits on BoJ and Fed chief remarks Aug 22, 2024
  • Precious Mettle Aug 21, 2024
  • Pet Odor Product Continues to Be Lucrative for Clean Tech Co. Aug 21, 2024
Share it on social networks