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21 Dec 2015
CFTC: commodities summarized - TDS
FXStreet (Guatemala) - Analysts at TD Securities summarized the commodities in the CFTC Commitment of Traders Report for the week ending December 15th, 2015.
Key Quotes:
Silver specs shortened their net holdings by a very large 5.8k lots (representing some 29.1 million oz and 3.4% of open interest), as prices migrated lower and many risk takers prepositioned for the first Fed rate hike since 2006. With the US hiking rates and the cost to carry silver likely moving higher, investors still have plenty of room to acquire new shorts and have ample amount of longs to liquidate.
Gold investors also moved closer to net short positioning in response to anticipated Fed rate hike.
In sharp contrast to investor positioning in the precious metals complex, they increased net long copper positions by nearly one percent of open interest, which at 1.57k lots represents some 39.3 million pounds of metal. The increase in net holdings came by way of longs, as prices were likely seen to be unsustainably low.
Key Quotes:
Silver specs shortened their net holdings by a very large 5.8k lots (representing some 29.1 million oz and 3.4% of open interest), as prices migrated lower and many risk takers prepositioned for the first Fed rate hike since 2006. With the US hiking rates and the cost to carry silver likely moving higher, investors still have plenty of room to acquire new shorts and have ample amount of longs to liquidate.
Gold investors also moved closer to net short positioning in response to anticipated Fed rate hike.
In sharp contrast to investor positioning in the precious metals complex, they increased net long copper positions by nearly one percent of open interest, which at 1.57k lots represents some 39.3 million pounds of metal. The increase in net holdings came by way of longs, as prices were likely seen to be unsustainably low.