MTECHTIPS;-Silver Speculative Longs Down For Fifth Time

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MTECHTIPS;-Silver Speculative Longs Down For Fifth Time 

MTECHTIPS- Silver Large metals speculators cut their bullish net positions in the Silver futures markets last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC). The non-commercial futures contracts of Silver futures, traded by large speculators and hedge funds, totaled a net position of 2,947 contracts in the data reported through Tuesday March 13th. This was a weekly fall of -3,239 contracts from the previous week which had a total of 6,186 net contracts. Speculative positions have fallen five out of the past six weeks. The positions dropped into a small bearish level on February 27th that marked the first bearish position in roughly fifteen years. Meanwhile, the commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -19,273 contracts on the week. This was a weekly gain of 2,537 contracts

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