Home Tools COT Metals Speculators raise Platinum bullish bets higher for 3rd week

COT Metals Speculators raise Platinum bullish bets higher for 3rd week

14
0


By InvestMacro | COT | Data Tables | COT Leaders | Downloads | COT Newsletter

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 August 16th and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.

Weekly Speculator Changes Week 33: Platinum bullish bets rise

COT precious metals speculator bets were overall higher this week as four out of the five metals markets we cover had higher positioning this week with just one market had lower contracts.

Leading the gains for the precious metals markets was Platinum (2,094 contracts) with Silver (629 contracts), Palladium (371 contracts) and Copper (257 contracts) also showing positive weeks.

The metals markets leading the declines in speculator bets this week were Gold (-1,687 contracts) on the week.

Highlighting the metals data this week is that Platinum speculator bets that have bounced back a bit over the past three weeks after a recent down-streak that put the position in negative territory. The Platinum large speculator positions rose this week for a third straight week and for the fourth time over the past five weeks. This recent uptick has pulled the overall position out of a bearish level that had held from June 28th to August 2nd. This week, the current position increased into a small bullish level of +2,940 contracts. The Platinum futures price, meanwhile, took a step back this week with a loss. The futures had previously seen four straight weekly gains before closing the week below the $900.00 level.


Aug-16-2022 OI OI-Index Spec-Net Spec-Index Com-Net COM-Index Smalls-Net Smalls-Index
WTI Crude 1,557,349 0 214,940 1 -239,291 100 24,351 48
Gold 453,960 0 141,164 19 -153,709 84 12,545 4
Silver 144,314 11 3,508 10 -12,451 90 8,943 12
Copper 183,500 17 -28,220 22 28,932 79 -712 21
Palladium 7,951 7 -1,599 14 1,536 83 63 48
Platinum 57,254 17 2,940 12 -6,361 90 3,421 10
Natural Gas 983,460 5 -120,911 42 82,862 57 38,049 70
Brent 176,902 21 -36,012 51 34,290 50 1,722 33
Heating Oil 296,987 34 24,926 79 -40,022 29 15,096 51
Soybeans 595,095 5 83,183 39 -51,650 68 -31,533 18
Corn 1,316,462 1 220,129 58 -166,318 48 -53,811 12
Coffee 190,302 0 33,471 68 -35,318 37 1,847 16
Sugar 737,535 7 49,970 47 -61,837 56 11,867 23
Wheat 313,237 11 -1,908 17 7,448 70 -5,540 82

 


Strength Scores

Strength scores (a measure of the 3-Year range of Speculator positions, from 0 to 100 where above 80 is extreme bullish and below 20 is extreme bearish) showed that Copper is the highest metals market currently at just 22.0 percent of its 3-year range. The rest of the metals markets are all in bearish extreme levels (below 20 percent) and have been for a while now. Gold (18.6 percent), Palladium (13.8 percent), Platinum (12.0 percent) and Silver (9.7 percent) round out the rest of the metals market in strength scores.

 


Strength Statistics:
Gold (18.6 percent) vs Gold previous week (19.2 percent)
Silver (9.7 percent) vs Silver previous week (9.0 percent)
Copper (22.0 percent) vs Copper previous week (21.9 percent)
Platinum (12.0 percent) vs Platinum previous week (9.2 percent)
Palladium (13.8 percent) vs Palladium previous week (11.7 percent)

Strength Trends

Strength Score Trends (or move index, calculates the 6-week changes in strength scores) show that Palladium (10.2 percent) leads the past six weeks trends for metals this week. Platinum (7.7 percent) and Copper (2.6 percent) are the only other positive movers in the latest trends data. Silver (-2.0 percent) and Gold (-1.7 percent) lead the downside trend scores currently but have both improved since last week.

 


Move Statistics:
Gold (-1.7 percent) vs Gold previous week (-5.7 percent)
Silver (-2.0 percent) vs Silver previous week (-9.7 percent)
Copper (2.6 percent) vs Copper previous week (1.6 percent)
Platinum (7.7 percent) vs Platinum previous week (2.9 percent)
Palladium (10.2 percent) vs Palladium previous week (10.4 percent)


Individual Markets:

Gold Comex Futures:

Gold Futures COT ChartThe Gold Comex Futures large speculator standing this week reached a net position of 141,164 contracts in the data reported through Tuesday. This was a weekly fall of -1,687 contracts from the previous week which had a total of 142,851 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 18.6 percent. The commercials are Bullish-Extreme with a score of 83.7 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 3.6 percent.

Gold Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 52.5 27.0 8.3
– Percent of Open Interest Shorts: 21.4 60.9 5.6
– Net Position: 141,164 -153,709 12,545
– Gross Longs: 238,196 122,566 37,826
– Gross Shorts: 97,032 276,275 25,281
– Long to Short Ratio: 2.5 to 1 0.4 to 1 1.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 18.6 83.7 3.6
– Strength Index Reading (3 Year Range): Bearish-Extreme Bullish-Extreme Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -1.7 4.3 -20.2

 


Silver Comex Futures:

Silver Futures COT ChartThe Silver Comex Futures large speculator standing this week reached a net position of 3,508 contracts in the data reported through Tuesday. This was a weekly rise of 629 contracts from the previous week which had a total of 2,879 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 9.7 percent. The commercials are Bullish-Extreme with a score of 90.0 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 12.3 percent.

Silver Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 33.2 41.4 16.1
– Percent of Open Interest Shorts: 30.7 50.0 9.9
– Net Position: 3,508 -12,451 8,943
– Gross Longs: 47,851 59,753 23,230
– Gross Shorts: 44,343 72,204 14,287
– Long to Short Ratio: 1.1 to 1 0.8 to 1 1.6 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 9.7 90.0 12.3
– Strength Index Reading (3 Year Range): Bearish-Extreme Bullish-Extreme Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -2.0 -0.8 12.0

 


Copper Grade #1 Futures:

Copper Futures COT ChartThe Copper Grade #1 Futures large speculator standing this week reached a net position of -28,220 contracts in the data reported through Tuesday. This was a weekly rise of 257 contracts from the previous week which had a total of -28,477 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 22.0 percent. The commercials are Bullish with a score of 79.3 percent and the small traders (not shown in chart) are Bearish with a score of 21.2 percent.

Copper Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 25.5 46.4 7.7
– Percent of Open Interest Shorts: 40.9 30.7 8.1
– Net Position: -28,220 28,932 -712
– Gross Longs: 46,797 85,187 14,097
– Gross Shorts: 75,017 56,255 14,809
– Long to Short Ratio: 0.6 to 1 1.5 to 1 1.0 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 22.0 79.3 21.2
– Strength Index Reading (3 Year Range): Bearish Bullish Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 2.6 -1.7 -6.8

 


Platinum Futures:

Platinum Futures COT ChartThe Platinum Futures large speculator standing this week reached a net position of 2,940 contracts in the data reported through Tuesday. This was a weekly lift of 2,094 contracts from the previous week which had a total of 846 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 12.0 percent. The commercials are Bullish-Extreme with a score of 90.2 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 9.6 percent.

Platinum Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 45.8 39.7 11.3
– Percent of Open Interest Shorts: 40.7 50.8 5.3
– Net Position: 2,940 -6,361 3,421
– Gross Longs: 26,218 22,749 6,467
– Gross Shorts: 23,278 29,110 3,046
– Long to Short Ratio: 1.1 to 1 0.8 to 1 2.1 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 12.0 90.2 9.6
– Strength Index Reading (3 Year Range): Bearish-Extreme Bullish-Extreme Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 7.7 -6.1 -13.7

 


Palladium Futures:

Palladium Futures COT ChartThe Palladium Futures large speculator standing this week reached a net position of -1,599 contracts in the data reported through Tuesday. This was a weekly advance of 371 contracts from the previous week which had a total of -1,970 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 13.8 percent. The commercials are Bullish-Extreme with a score of 83.4 percent and the small traders (not shown in chart) are Bearish with a score of 47.5 percent.

Palladium Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 18.6 54.9 15.1
– Percent of Open Interest Shorts: 38.7 35.6 14.3
– Net Position: -1,599 1,536 63
– Gross Longs: 1,479 4,363 1,202
– Gross Shorts: 3,078 2,827 1,139
– Long to Short Ratio: 0.5 to 1 1.5 to 1 1.1 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 13.8 83.4 47.5
– Strength Index Reading (3 Year Range): Bearish-Extreme Bullish-Extreme Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 10.2 -14.3 43.8

 


Article By InvestMacroReceive our weekly COT Reports by Email

*COT Report: The COT data, released weekly to the public each Friday, is updated through the most recent Tuesday (data is 3 days old) and shows a quick view of how large speculators or non-commercials (for-profit traders) were positioned in the futures markets.

The CFTC categorizes trader positions according to commercial hedgers (traders who use futures contracts for hedging as part of the business), non-commercials (large traders who speculate to realize trading profits) and nonreportable traders (usually small traders/speculators) as well as their open interest (contracts open in the market at time of reporting).See CFTC criteria here.


investmacro products link

  • Large Bond Speculators drop 5-Year Bonds bets lower for 4th Week to 24-Week low Aug 20, 2022
  • Sugar, Live Cattle & Soybean Oil lead Soft Commodity Speculator bets higher Aug 20, 2022
  • Energy Speculators push Heating Oil bets higher for 6th week to 42-week high Aug 20, 2022
  • Dow Jones Stock Mini Speculator bets improve for 3rd week to 27-week high Aug 20, 2022
  • Ichimoku Cloud Analysis 19.08.2022 (EURUSD, NZDUSD, USDCHF) Aug 19, 2022
  • Forex Technical Analysis & Forecast 19.08.2022 Aug 19, 2022
  • Week Ahead: Big Week For Gold As Jackson Hole Looms Aug 19, 2022
  • The Analytical Overview of the Main Currency Pairs on 2022.08.19 Aug 19, 2022
  • Inflation in the Eurozone shows no signs of slowing down. US real estate market is showing signs of a recession Aug 19, 2022
  • Ichimoku Cloud Analysis 18.08.2022 (GBPUSD, AUDUSD, USDCAD) Aug 18, 2022
Previous articleRBNZ Hawkesby: Things will be evenly balanced once rates reach 4-4.25%
Next articleKinarus announces the issuance of convertible notes of up to CHF 20 million to an entity managed by Yorkville