Commodities Buzz: Speculators Cut Longs In Silver After Recent Increases

Large precious metals speculators cut their bullish net positions in the Silver futures markets last week after recent increase, 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 40,902 contracts in the data reported through Tuesday June 19th. This was a weekly fall of -8,828 contracts.The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -58,541 contracts on the week. This was a weekly uptick of 8,841 contracts from the total net of -67,382 contracts reported the previous week.