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, Feb. 1, and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.
Highlighting the COT metals data is this week’s sharp decline in the Gold futures bets. The speculative net position in the Gold futures dropped by -48,009 contracts this week, marking the largest one-week decline in the past one-hundred and forty-six weeks, dating back to Apr. 16 of 2019 when speculator bets fell by -49,091 contracts.
The steep drop this week knocked the current speculator standing down to the lowest level since Sept. 28. Gold prices have been consolidating in a triangle pattern right around the major support/resistance level of $1800.
Joining Gold (-48,009 contracts) in falling this week were Silver (-10,023 contracts) and Copper (-10,326 contracts) while Platinum (789 contracts) and Palladium (996 contracts) had position rises this week.
Gold Comex Futures
The Gold Comex Futures large speculator standing this week equaled a net position of 172,142 contracts in the data reported through Tuesday. This was a weekly decrease of -48,009 contracts from the previous week which had a total of 220,151 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 with a score of 42.6 percent. The commercials are Bullish with a score of 56.1 percent and the small traders (not shown in chart) are Bearish with a score of 47.1 percent.
Silver Comex Futures
The Silver Comex Futures large speculator standing this week equaled a net position of 22,118 contracts in the data reported through Tuesday. This was a weekly decrease of -10,023 contracts from the previous week which had a total of 32,141 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 with a score of 44.4 percent. The commercials are Bullish with a score of 64.3 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 19.4 percent.
Copper Grade #1 Futures
The Copper Grade #1 Futures large speculator standing this week equaled a net position of 16,155 contracts in the data reported through Tuesday. This was a weekly decrease of -10,326 contracts from the previous week which had a total of 26,481 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 54.0 percent. The commercials are Bearish with a score of 45.0 percent and the small traders (not shown in chart) are Bullish with a score of 53.6 percent.
Platinum Futures
The Platinum Futures large speculator standing this week equaled a net position of 14,581 contracts in the data reported through Tuesday. This was a weekly increase of 789 contracts from the previous week which had a total of 13,792 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 with a score of 23.4 percent. The commercials are Bullish-Extreme with a score of 80.7 percent and the small traders (not shown in chart) are Bearish with a score of 34.6 percent.
Palladium Futures
The Palladium Futures large speculator standing this week equaled a net position of -992 contracts in the data reported through Tuesday. This was a weekly gain of 996 contracts from the previous week which had a total of -1,988 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 15.2 percent. The commercials are Bullish-Extreme with a score of 83.1 percent and the small traders (not shown in chart) are Bearish with a score of 46.2 percent.