Home / Metal News / Aluminium / Hedge Funds Increase Bullish Bets In Silver, Bearish Bets In Gold
Hedge Funds Increase Bullish Bets In Silver, Bearish Bets In Gold
May 17,2016 09:39CST
industry news
Source:SMM
Hedge funds took a bigger interest in silver as they increased their bullish bets while increasing their short bets in gold.

Monday May 16, 2016 14:37

(Kitco News) - Hedge funds took a bigger interest in silver as they increased their bullish bets while increasing their short bets in gold, according to the latest data from the Commodity Futures Trading Commission.

The disaggregated Commitments of Trader report (COT), for the week ending May 10, showed money managers increased their speculative gross long positions in Comex silver futures by 5,720 contracts to 86,732. At the same time, short bets increased by 1,146 contracts to 13,792. The latest data shows the silver market is net long by 72,940 contracts.

Silver’s long bet increased almost 6.7% from the previous week’s level and, according to Ole Hansen, head of commodity strategy at Saxo Bank, hit a new record high. He added that the new record in speculative positioning was made despite falling prices.

During the survey period, Comex July silver futures fell 2%, testing support just above $17 an ounce. Hansen noted that a stronger U.S. dollar last week pressured the entire precious metals market lower.

Source:Kitco  

precious metals prices
gold prices
silver prices

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news