Speculative appetite for silver strengthened in the latest reporting period, with CFTC data showing a modest uptick in net long positions. As of 20 February 2026, speculative net positions in U.S. silver futures rose to 24.0K contracts, up from 23.0K previously.
The increase suggests investors are incrementally more optimistic about silver’s near-term outlook, adding to bullish exposure despite still-cautious sentiment across broader commodities. While the rise is not dramatic, the continued build in net longs may signal growing confidence in silver’s role as both an industrial metal and a defensive asset in a shifting macro environment.
