What Is the COT Report?
The Commitment of Traders (COT) report is published every Friday by the CFTC, showing how different categories of traders are positioned in futures markets. For precious metals, the key groups are Commercials (banks and miners who hedge) and Managed Money (hedge funds that speculate).
How to Read This Dashboard
Watch for positioning extremes. When managed money builds record long positions, it often precedes a correction. When managed money is heavily short and commercials cover, it frequently signals a bottom. The COT report is one of the most reliable contrarian indicators in precious metals.