COT Reports Explained
The Commitment of Traders report reveals how institutional money is positioned in gold and silver futures. Learn how to read it, interpret extremes, and use it in your trading decisions.
Quick Answer
The COT report is a weekly CFTC publication showing futures positioning by trader category. For precious metals, the key signal is the relationship between commercial hedgers (banks) and managed money (hedge funds). Positioning extremes often precede major price moves in gold and silver.
COT Tools
Deep Dives
How to Read the COT Report: Visual Guide
Step-by-step tutorial with annotated CFTC screenshots.
Commercial Short Positions Explained
What bank hedging tells us about gold and silver direction.
Managed Money Positioning in Gold
What spec extremes tell us about potential reversals.
COT Positioning Signals
When positioning predicts major silver moves.
CFTC COT Data Guide
Where to find official COT data and how to use it.
COT Report for Silver
A complete analysis framework for silver positioning.
COT Report for Gold
A complete analysis framework for gold positioning.
Bank Participation Report Explained
Tracking JP Morgan and the Big 8 banks.
Frequently Asked Questions
What is the COT report?
The Commitment of Traders (COT) report is published weekly by the CFTC. It breaks down futures positions by trader category — commercials (hedgers like banks and miners), managed money (hedge funds), and other reportables. It's the closest thing to seeing what 'smart money' is doing.
How do I use the COT report for gold and silver?
Watch for extremes in commercial and managed money positioning. When commercials cover shorts and managed money is heavily short, it often signals a bottom. When managed money is at record longs and commercials are heavily short, it can signal a top or correction.
When is the COT report released?
The CFTC releases the COT report every Friday at 3:30 PM ET, reflecting positions as of the prior Tuesday. The data has a 3-day lag, but it remains one of the most valuable datasets for precious metals traders.
Where can I find COT report data?
Official data is available at cftc.gov. Silver of Truth provides visualized COT data with historical charts and AI-powered analysis in the app and on our COT Dashboard tool page.
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