COT Reports / Metals

Metals
The COT Report for Metals shows the positioning of major market participants (banks, funds, producers). Extreme positioning can indicate potential market trend reversals.

Understand how big banks, hedge funds, and commercials are positioning themselves in Metals. Analyze institutional money flows to identify historical extremes and gain a deeper understanding of underlying market dynamics.

How to Read Metal Data

Commercial Hedging: In metals like Gold or Silver, "Commercials" are typically mining companies and producers. They are almost always net-short because they need to lock in prices for their future production. When you see their net-short position shrink unusually fast, it can be a strong bullish signal, indicating they don't feel the need to hedge against falling prices.

Speculative Extremes: Hedge funds ("Non-Commercials") act as trend followers. Whenever their net-long positions hit historically extreme highs, the market is often ripe for a sharp correction.

Aluminum Midwest Premium (MWP)

MWP

Tracks the Aluminum Midwest Premium, a benchmark for physical aluminum pricing representing the logistics cost of delivering the metal to the US.

Gold (GC)

GC

Tracks the standard 100-ounce Gold contract, widely viewed as a premier safe-haven asset, inflation hedge, and store of value by institutions.

Gold Mini (GM)

GM

Tracks the E-Micro Gold contract. At 1/10th the size of the standard (10 ounces), it allows retail traders access to the premier safe-haven asset.

High Grade Copper (HG)

HG

Tracks the standard 25,000-pound Copper contract ('Doctor Copper'). Essential for green tech and a leading indicator of global economic manufacturing.

Hot Rolled Coil Steel (HRC)

HRC

Tracks Hot Rolled Coil Steel futures, the benchmark for US steel prices and a vital input for construction, automotive, and heavy manufacturing.

Palladium (PA)

PA

Tracks Palladium futures. A rare, vital industrial metal used overwhelmingly by the automotive industry for catalytic converters to reduce emissions.

Platinum (PL)

PL

Tracks Platinum futures. A dense, highly valued precious and industrial metal used heavily in automotive catalytic converters and jewelry.

Silver (SI)

SI

Tracks the standard 5,000-ounce Silver contract, a highly volatile commodity functioning dualistically as a precious and industrial metal.

Latest Metal News

Silver (SI) Oct 31, 2026 Positive

Silver Is Melting Down, I'm Aggressively Buying AGQ (Rating Upgrade)

Silver fell by roughly 20% in October and nearly 6% on October 30th to close out the month. I make the case with daily, weekly, and monthly charts that the bottom is likely very close. I'm buying t...

Gold Mini (GM) Oct 30, 2026 Neutral

Centerra Gold Inc. (CG:CA) Q3 2026 Earnings Call Transcript

Centerra Gold Inc. ( CG:CA ) Q3 2026 Earnings Call October 30, 2026 9:00 AM EDT Company Participants Lisa Wilkinson - Vice President of Investor Relations & Corporate Communications Paul Botond Tom...

High Grade Copper (HG) Oct 30, 2026 Neutral

Copper Road Makes Option Payments

TORONTO, Oct. 30, 2026 (GLOBE NEWSWIRE) -- Copper Road Resources Inc. (TSX-V: CRD) ("Copper Road" or the "Company") announced today that it has completed its latest option payments under its agreem...

Gold Mini (GM) Oct 30, 2026 Negative

Gold (XAU/USD) Price Forecast: Breakdown Puts $3,500 in Focus

Gold breaks below major support at $3,942 as bearish momentum accelerates, exposing lower targets near $3,789, with a deeper correction potentially reaching $3,500.

Gold Mini (GM) Oct 30, 2026 Negative

Why gold plunged to its lowest price in a year despite renewed Iran jitters

Safe-haven gold fell to its lowest price in a year, despite jitters around the potential for fresh Middle East attacks following the U.S. midterm elections on Tuesday

Gold Mini (GM) Oct 30, 2026 Neutral

Cartier Files on SEDAR+ the NI 43-101 Technical Report of the updated Preliminary Economic Assessment for the Cadillac Project: After-tax NPV5% of C$1.0 billion and after-tax IRR of 26.6% at US$3,600/oz gold price

Average annual production of 100 koz of gold over a 16.2-year mine life – After-tax NPV5% of C$1,565 M and after-tax IRR of 37.3% at spot gold of US$4,300/oz - NPV5% to initial capital ratio of 3.6...

Gold Mini (GM) Oct 30, 2026 Positive

Gold vs. Silver Miners: Silver Miners ETF Outperforms Gold Peers

iShares MSCI Global Silver and Metals Miners ETF offers a lower expense ratio and higher trailing-12-month dividend yield than Sprott Gold Miners ETF. Sprott Gold Miners ETF provides more concentra...

Silver (SI) Oct 30, 2026 Positive

Gold vs. Silver Miners: Silver Miners ETF Outperforms Gold Peers

iShares MSCI Global Silver and Metals Miners ETF offers a lower expense ratio and higher trailing-12-month dividend yield than Sprott Gold Miners ETF. Sprott Gold Miners ETF provides more concentra...

High Grade Copper (HG) Oct 30, 2026 Neutral

Video - CEO Clips: Exploring the Potential for a Major Copper-Gold Discovery in Yukon

Vancouver, British Columbia--(Newsfile Corp. - October 30, 2026) - Yukon Metals (CSE: YMC) (OTCQB: YMMCF) is advancing a diverse portfolio of mineral exploration projects across Yukon, led by its f...

Gold Mini (GM) Oct 30, 2026 Neutral

Video - CEO Clips: Exploring the Potential for a Major Copper-Gold Discovery in Yukon

Vancouver, British Columbia--(Newsfile Corp. - October 30, 2026) - Yukon Metals (CSE: YMC) (OTCQB: YMMCF) is advancing a diverse portfolio of mineral exploration projects across Yukon, led by its f...

Gold Mini (GM) Oct 30, 2026 Neutral

Video - CEO Clips: Alex Metals: Searching for the Next Major Silver-Gold Discovery in Alaska

Vancouver, British Columbia--(Newsfile Corp. - October 30, 2026) - Alex Metals (TSXV: ALX) is advancing three exploration projects in Southeast Alaska, targeting high-grade silver, gold, zinc and c...

Silver (SI) Oct 30, 2026 Neutral

Video - CEO Clips: Alex Metals: Searching for the Next Major Silver-Gold Discovery in Alaska

Vancouver, British Columbia--(Newsfile Corp. - October 30, 2026) - Alex Metals (TSXV: ALX) is advancing three exploration projects in Southeast Alaska, targeting high-grade silver, gold, zinc and c...

Gold Mini (GM) Oct 30, 2026 Neutral

Centerra Gold Q3 Earnings Call Highlights

Centerra Gold NYSE: CGAU said its third-quarter 2026 results reflected continued operating consistency at its Mount Milligan and Öksüt mines, while the company advanced development work at Goldfiel...

Gold Mini (GM) Oct 30, 2026 Negative

Gold (XAUUSD), Silver, Platinum Forecasts – Gold Dives 3.5% As Traders Focus On Tech Sell-Off

Gold, silver, and platinum test multi-month lows.

Platinum (PL) Oct 30, 2026 Negative

Gold (XAUUSD), Silver, Platinum Forecasts – Gold Dives 3.5% As Traders Focus On Tech Sell-Off

Gold, silver, and platinum test multi-month lows.

Silver (SI) Oct 30, 2026 Negative

Gold (XAUUSD), Silver, Platinum Forecasts – Gold Dives 3.5% As Traders Focus On Tech Sell-Off

Gold, silver, and platinum test multi-month lows.

Gold Mini (GM) Oct 30, 2026 Positive

The Gold-Silver Ratio Just Hit 80. Here's What History Says Happens Next.

The gold-silver ratio is a popular guideline for trading gold and silver. But it isn't foolproof or immune to unpredictable macro shocks.

Silver (SI) Oct 30, 2026 Positive

The Gold-Silver Ratio Just Hit 80. Here's What History Says Happens Next.

The gold-silver ratio is a popular guideline for trading gold and silver. But it isn't foolproof or immune to unpredictable macro shocks.

Silver (SI) Oct 30, 2026 Neutral

First Majestic Silver: It Needs Its Best Quarter Of The Year To Hit Guidance

First Majestic Silver remains a buy for long-term silver bulls, with strong assets and a robust balance sheet. Q2 results showed a 150% surge in free cash flow and a 108% increase in net earnings, ...

High Grade Copper (HG) Oct 30, 2026 Positive

Why Southern Copper (SCCO) is a Top Growth Stock for the Long-Term

The Zacks Style Scores offers investors a way to easily find top-rated stocks based on their investing style. Here's why you should take advantage.

Silver (SI) Oct 30, 2026 Negative

Silver Has Lost More Than Half Its Value Since January

Silver has shed more than half its value from a record set just nine months ago, and the forces behind the collapse show no sign of reversing. Two signals now stand between a fragile floor and a de...

High Grade Copper (HG) Oct 30, 2026 Neutral

Capstone Copper Corp. (CS:CA) Q3 2026 Earnings Call Transcript

Capstone Copper Corp. (CS:CA) Q3 2026 Earnings Call Transcript

Silver (SI) Oct 30, 2026 Neutral

Pacifica Silver Announces Upgrade to the OTCQX Best Market

Vancouver, British Columbia--(Newsfile Corp. - October 30, 2026) - Pacifica Silver Corp. (CSE: PSIL) (OTCQX: PAGFF) ("Pacifica Silver" or the "Company") is pleased to announce that its common share...

Silver (SI) Oct 30, 2026 Neutral

Pacifica Silver Corp. Begins Trading on OTCQX Best Market

NEW YORK, Oct. 30, 2026 (GLOBE NEWSWIRE) -- OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced Pacifica Silver...