MTECHTIPS;-Silver COT Positions Turn Net Long

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MTECHTIPS;-Silver COT Positions Turn Net Long

MTECHTIPS-SILVER-Large metals speculators increased their bullish sentiment in the Silver futures markets for the first time in five weeks 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 6,186 contracts in the data reported through Tuesday March 6th. This was a weekly boost of 7,694 contracts from the previous week which had a total of -1,508 net contracts. Speculative positions are now back in bullish territory after falling into a bearish net position last week which was the first overall bearish position in nearly a decade and a half. Meanwhile, the commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -21,810 contracts on the week. This was a weekly drop of -7,347 contracts

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