Silver COT Report Signals Shift in Trader Sentiment Amid Decreased Trading Activity

The latest Commodity Futures Trading Commission (COT) report for Silver on July 31, 2026 shows that Large Speculators have reduced their long positions by 1,427 contracts and increased their short positions by 179 contracts. Meanwhile, Commercial traders have decreased their long positions by 457 contracts and increased their short positions by 1,187 contracts.

The combined futures and options data also reveals a notable shift in trader sentiment. Large Speculators' net long position has increased to 889 contracts, while Commercial traders' net short position has grown to -681 contracts.

As of July 28, the open interest for Silver futures stood at 106,719 contracts for Small Speculators and 121,385 contracts for all traders combined. The data suggests a decrease in trading activity among Small Speculators, with a drop in their long positions by -1,499 contracts and short positions by -1,103 contracts.

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