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*The large specs increased their long positions by 16,063 contracts and reduced their shorts by 14,233 contracts.
*The commercials reduced their long positions by 4,793 contracts and increased their shorts by 25,042 contracts.
*The small specs increased their longs by 191 contracts and increased their shorts by 652 contracts.
Gold
*The large specs increased their long positions by 7,431 contracts and decreased their shorts by 1,393 contracts.
*The commercials reduced their longs by 4,608 contracts and increased their shorts by 1,632 contracts.
*The small specs decreased their longs by 2,425 contracts and increased their shorts by 159 contracts.
The silver COT report has to be the most bearish in the history of the silver market, and those numbers were as of Tuesday. That doesn’t mean the price has to tank anymore. That bearishness was possibly resolved today.