According to the disaggregated report of traders on Comex: speculative long positions on silver futures decreased by 684 contracts to 36,411. At the same time, short positions increased by 2,909 contracts to 50,452.
The silver market continues to experience difficulties as industrial demand remains subdued. Analysts note that 60% of the demand for silver is for industrial use.
However, some analysts note that sentiment toward industrial metals may be close to the bottom, as seen in the copper market.
According to the Copper company's disaggregated report, it can be seen that on Comex, speculative long positions on futures for high-quality copper decreased by 1,099 contracts to 38,869. At the same time, short positions decreased by 4,904 contracts to 53,405.
The peak of commodity outflow is behind. For the first time in a month, capital returns to broad commodity funds. This suggests that the sharpest outflow since 2014 has come to an end.
So far, non-ferrous metals are in a bear market, but they are already close to a reversal.
