Precious Metals Preview: Speculative Demand Remains Weak In Silver

Large metals speculators cut their net positions in the Silver Futures markets into a bearish level last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday. The non-commercial futures contracts of Silver futures, traded by large speculators and hedge funds, totaled a net position of -12,516 contracts in the data reported through Tuesday March 20th. This was a weekly drop of -15,463 contracts. Both the speculator and commercial positions have a negative position in silver futures that is offset by the small speculators that held a +16,225 net contract level this week.