Speculative interest in silver futures declined in the latest reporting period, according to data from the U.S. Commodity Futures Trading Commission (CFTC) updated on 21 November 2025. Net speculative positions in silver fell to 46.2K contracts, down from the previous level of 49.7K.
The decrease in net long positions suggests that some traders have pared back their bullish exposure to silver, either locking in profits or moderating expectations for further price gains. While positioning remains net long overall, the pullback may indicate growing caution among speculators amid shifting market conditions and reassessments of precious metals’ near-term prospects.
