Read more on this subject: Gold and Silver
News Story Source: themaven.net by Mike Mish Shedlock
The gold COT chart (GC) shows large speculators are net long 178,718 contracts, while the commercial traders are short 199,796. Short specs are long 20,808 contracts, making up the difference.
Data is is reported on Friday for the prior Tuesday.
Large speculators are typically hedge funds, and small speculators are individual traders or tiny funds trading a small number of contracts. The commercials are the producers of gold plus the market makers who take the other side of trades.
The silver COT chart (SI) shows large speculators are net short 1,508 contracts, while the commercial traders are net short 14,463. Short specs are long 15,971 contracts, making up the difference.
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