Silver Market Sentiment Shifts as Large Speculators Reduce Net Long Position

The latest COT Silver Report for August 14, 2026, shows that large speculators have reduced their net long position in silver futures. According to the report, large speculators hold a net short position of -2,821 contracts, while commercial holders are still holding onto a net long position of 2,598 contracts.

The total open interest for silver futures has increased to 115,127 contracts, with small speculators accounting for 29,105 long positions and 8,777 short positions. The report also shows that the non-reportable positions have increased from -1,317 to -412, indicating a shift in market sentiment.

The COT Silver Report also provides insights into the combined futures and options market, where large speculators hold a net long position of 3,001 contracts, while commercial holders are still holding onto a net short position of 1,502. The total open interest for this market has increased to 134,898 contracts.

The data suggests that the silver market is experiencing a shift in sentiment, with large speculators reducing their net long position and small speculators increasing their long positions. However, it's essential to note that non-reportable positions have also increased, indicating a potential increase in market volatility.