The CoTs report is a breakdown of open interest in the major futures markets as reported by the US Commodity Futures Trading Commission
Please note: the CoTs report was published 04/28/2023 for the period ending 04/25/2023. “Managed Money” and “Hedge Funds” are used interchangeably.
Based on the latest Commitments of Traders (COT) report, the latest price action is potentially even more bullish than normal. The latest price moves have been supported by Managed Money but the data clearly shows there is more driving the upward movement.
Please note: the CoTs report was published 03/31/2023 for the period ending 03/28/2023. “Managed Money” and “Hedge Funds” are used interchangeably.
While demand for physical gold and silver have been robust, managed money has dominated the market. So, is it buying this bull market?
Please note: the CoTs report was published 12/02/2022 for the period ending 11/29/2022. “Managed Money” and “Hedge Funds” are used interchangeably.
Managed money has controlled the gold and silver market over the last several months. But there are other dynamics going on unnoticed under the surface.
Please note: the CoTs report was published 10/28/2022 for the period ending 10/25/2022. “Managed Money” and “Hedge Funds” are used interchangeably.
Managed Money continues to hammer the price of gold lower as the Net Short position increased to -43k contracts.
Please note: the CoTs report was published on 9/30/2022 for the period ending 9/27/2022. “Managed Money” and “Hedge Funds” are used interchangeably.
The technical analysis last weekend highlighted that gold looks to be in a bottoming structure. Despite the sell-off this week, $1800 held, which could be another indication that gold is in the process of bottoming, with some final weak hands getting pushed out of the market.
Please note: the COTs report was published 7/3/2022 for the period ending 6/28/2022. “Managed Money” and “Hedge Funds” are used interchangeably.
The previous Commitment of Traders analysis showed how much influence Managed Money has over the short-term price movement of gold and silver. The table below summarizes this influence by comparing the Managed Money Net Positioning with “Other”, the next largest category. Swap is not considered because it typically sits opposite the other two.
Hedge funds closed shorts and went long in both gold and silver in October.
Please note: the COTs report was published 10/29/2021 for the period ending 10/26/2021. “Managed Money” and “Hedge Funds” are used interchangeably.
The Commitment of Traders analysis last month highlighted the potential over-extension of the shorts leading to a rebound. This proved to be the case in a big way. Unfortunately, the momentum lost steam and the $1810s for gold presented too much resistance.
This analysis focuses on gold and silver physical delivery on the Comex set for September 21, 2021. See the article What is the Comex for more detail.
The price of gold and silver can be driven by many variables both technical and fundamental. Fundamental drivers include Fed meetings/speeches, its balance sheet, inflation data, jobs numbers, market risk appetite, etc.
This analysis examines some of the more technical factors driving prices (e.g. Comex OI, Miners price action, technical price action). The CFCT Cots report can show investor positioning but is covered in another analysis.
