Silver COT Positioning
Weekly CFTC Commitments of Traders positioning in silver futures: managed-money (funds), commercial/producer-merchant (hedgers) and swap-dealer long, short and net positions.
CFTC Commitments of Traders (COT)
The silver COT report shows who is long, who is short, and how positioning is changing in the COMEX silver futures market.
Hedge funds and other large speculators. This "fast money" tends to chase price trends, so unusually large net long or short positions can flag crowded trades and possible turning points.
About this data
The CFTC Commitments of Traders (COT) report breaks down open interest in COMEX silver futures by trader group: managed money (hedge funds and CTAs), producer/merchant (commercial hedgers) and swap dealers. It is published every Friday with positions as of Tuesday close. Extreme managed-money net-long or net-short readings often mark crowded positioning that precedes reversals.
Source: CFTC weekly Commitments of Traders report (cftc.gov), released Fridays around 3:30pm ET with Tuesday data. WatchGold updates the chart after each release.
Frequently asked questions
- Who publishes the COT report and when?
- The US Commodity Futures Trading Commission (CFTC) publishes it every Friday afternoon, covering positions as of the preceding Tuesday. There is no intraweek update.
- What does managed-money net positioning mean?
- It is the difference between long and short silver futures contracts held by funds. Strongly net-long funds signal bullish consensus; when that positioning reaches historical extremes, the market is vulnerable to long liquidation.
- How do traders use COT data?
- As a sentiment and crowding gauge rather than a timing tool. Many read it alongside the futures term structure: stretched long positioning into a steep contango curve is a classic overheating pattern.