Large precious metals speculators added to their bullish net 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) on Friday. The non-commercial futures contracts of Silver futures, traded by large speculators and hedge funds, totaled a net position of 5,864 contracts in the data reported through Tuesday July 31st. This was a weekly gain of 2,326 contracts.
The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -24,149 contracts on the week. This was a weekly drop of -4,124 contracts from the total net of -20,025 contracts reported the previous week.