SILVER COT report

SILVER - COMMODITY EXCHANGE INC. positioning from the CFTC Legacy report. Net positions equal long contracts minus short contracts. Commercial, non-commercial and non-reportable classifications describe participants; they are not buy or sell signals.

Positions as of 2026-10-27. Open interest: 116226 contracts. This is the latest stored observation, not live trading data.

How are traders positioned?

Non-commercial percentile: 1 across 103 stored observations. This is the share of sampled net positions at or below the latest value, not a price forecast.

Historical AI commentary — 2026-07-07

This commentary is dated separately from the positioning table. It may describe an earlier market environment.

SUMMARY: Silver shows extreme positioning with Managed Money at the 100th percentile and hedgers at the 0th percentile, but the 12-week trend is flat, meaning this is a structural extreme level, not a recent surge. Price is near the middle of its 156-week range, down 40% over 6 months, and historical patterns from similar weeks show a high risk of significant declines over 4-12 weeks, though wi...

How should this COT report be used?

Use positioning to understand exposure and crowded trades alongside price, liquidity and risk controls. Weekly reports generally describe Tuesday positions released on Friday, subject to the CFTC schedule. Classifications differ in TFF and Disaggregated reports. Compare like-for-like formats and dates.

Open interactive charts · Trader category guide · Report formats