Hedge funds' bet on higher silver prices is the smallest in a year (CFTC, week to Oct 20)
Commitments of Traders (US Commodity Futures Trading Commission), silver futures, positions on Tuesday Oct 20, 2026: hedge funds and other money managers ("managed money") held 16,180 contracts betting on higher silver prices and 12,675 betting on lower silver prices, a net long of 3,505 contracts (3% of the 113,992 contracts open). A week earlier the net was long 5,619. Over the past year it ranged from long 3,505 (Oct 20, 2026) to long 25,775 (Dec 9, 2025). Positions show what large traders hold, not where prices go next. Source: CFTC Commitments of Traders.
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