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

Sep 02, 2026 Neutral

BILL to Participate in Upcoming Investor Conference

SAN JOSE, Calif.--(BUSINESS WIRE)--BILL (NYSE: BILL), the financial operations platform trusted by nearly half a million businesses to manage, move and maximize their money, announced today its par...

Aug 31, 2026 Positive

Shopify Stock Nears a Golden Cross. Cathie Wood Never Waited for It.

Cathie Wood didn't wait for Shopify Inc‘s (NASDAQ:SHOP) chart to turn bullish before backing the company. Now, as Shopify stock approaches a Golden Cross —a closely watched technical pattern that s...

Aug 31, 2026 Positive

BILL Holdings (BILL)'s Technical Outlook is Bright After Key Golden Cross

After reaching an important support level, BILL Holdings, Inc. (BILL) could be a good stock pick from a technical perspective. BILL recently experienced a "golden cross" event, which saw its 50-day...

Aug 31, 2026 Positive

Bill Ackman Saw Microsoft Before the Chart Did

Microsoft Corp‘s (NASDAQ:MSFT) chart may be flashing a bullish signal now, but hedge fund billionaire Bill Ackman placed his bet much earlier. As the software giant's 50-day moving average inches t...

Aug 31, 2026 Positive

Bill Ackman Saw Microsoft Before the Chart Did

Microsoft Corp‘s (NASDAQ:MSFT) chart may be flashing a bullish signal now, but hedge fund billionaire Bill Ackman placed his bet much earlier. As the software giant's 50-day moving average inches t...

Gold Mini (GM) Aug 28, 2026 Neutral

Wall Street holds out hope for gold despite fall to $4,445/oz, Main Street pares bullish majority with payrolls now in focus

The latest Kitco News Weekly Gold Survey showed half of Wall Street still bullish even after gold's dramatic Friday slide, while Main Street sentiment pulled back from last week's high-water mark.

Gold Mini (GM) Aug 28, 2026 Positive

4 Reasons To Believe That The 2nd Half Gold Rally Is Just Getting Started

Gold is poised for a strong rally in H2, supported by a technical breakout and favorable seasonality. A persistent gap between gold prices and global liquidity proxies implies potential targets up ...

Gold Mini (GM) Aug 28, 2026 Negative

Gold, silver sink as Warsh revives September Fed-hike trade - Kitco PM Report

Spot gold and silver prices are sharply lower in late-afternoon U.S. trading Friday, after Fed Chair Kevin Warsh used his Jackson Hole speech to reinforce the central bank's inflation fight, liftin...

Silver (SI) Aug 28, 2026 Negative

Gold, silver sink as Warsh revives September Fed-hike trade - Kitco PM Report

Spot gold and silver prices are sharply lower in late-afternoon U.S. trading Friday, after Fed Chair Kevin Warsh used his Jackson Hole speech to reinforce the central bank's inflation fight, liftin...

Silver (SI) Aug 28, 2026 Neutral

Guanajuato Silver Grants Stock Options to Officer

VANCOUVER, BC / ACCESS Newswire / August 28, 2026 / Guanajuato Silver Company Ltd. (the "Company" or "Guanajuato Silver") (TSXV:GSVR)(OTCQX:GSVRF) announces that the Company has granted incentive s...

Gold Mini (GM) Aug 28, 2026 Neutral

Gold Price Breakdown Puts $4,410 Support in Focus

Gold price loses its 200-day average and tests key support, with the 20-day MA near $4,410 pivotal to keeping the $4,780 recovery target alive.

Gold Mini (GM) Aug 28, 2026 Neutral

B2Gold Reports Fatality at the Masbate Gold Project

VANCOUVER, British Columbia, Aug. 28, 2026 (GLOBE NEWSWIRE) -- B2Gold Corp. (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G) (“B2Gold” or the “Company”) regrets to report that a fatality occurred at the Ma...

Gold Mini (GM) Aug 28, 2026 Neutral

ICG Silver & Gold Reports Q2 2026 Financial Results

Figures below are expressed in Canadian dollars unless otherwise stated Mobilized drill rig for fully-funded 3,000-meter Phase 1 Drill Program in June 2026, with drilling commencing subsequent to q...

Silver (SI) Aug 28, 2026 Neutral

ICG Silver & Gold Reports Q2 2026 Financial Results

Figures below are expressed in Canadian dollars unless otherwise stated Mobilized drill rig for fully-funded 3,000-meter Phase 1 Drill Program in June 2026, with drilling commencing subsequent to q...

Gold Mini (GM) Aug 28, 2026 Neutral

Gold is 'on the radar screen' and the Fed is split 'down the middle,' former Fed president says

Jim Bullard says a hold next month could still be hawkish, foreign central banks found physical gold more desirable than Bitcoin this year, and gold's run-up may signal eroding faith in the Fed, so...

Silver (SI) Aug 28, 2026 Neutral

Safi Silver Issues Final Tranche of Shares for the Silver Hill Project

TORONTO--(BUSINESS WIRE)--Safi Silver Corp. (TSX-V: SF, OTCPK: PNTZF) (“Safi Silver” or the “Company”) announces that it has issued an aggregate number of 625,000 common shares at a deemed value of...

Gold Mini (GM) Aug 28, 2026 Positive

Gold News: Gold Price Breaks 200-Day MA as Warsh Revives September Hike Bets

Gold price dropped $235 in four sessions after Warsh revived September rate-hike odds, broke the 200-day MA and lifted the dollar.

Gold Mini (GM) Aug 28, 2026 Positive

1911 Gold CEO on True North Mill restart progress - ICYMI

1911 Gold Corp (TSX-V:AUMB, OTCQB:AUMBF, FRA:2KY) CEO Shaun Heinrichs talked with Proactive about metallurgy results from the company's True North project and progress towards restarting its existi...

Gold Mini (GM) Aug 28, 2026 Negative

Gold Weekly Price Rejected at $4,700 as $4,500 Support Looms

Gold price retreats from $4,700 after a hawkish Fed speech, putting $4,500 support in focus with the 50-week EMA near $4,271 if selling deepens.

Platinum (PL) Aug 28, 2026 Neutral

AFL's Fujikura 100S Splicer Earns Platinum Recognition in 2026 ISE Network Innovators' Awards

SPARTANBURG, S.C.--(BUSINESS WIRE)-- #WeAreAFL--AFL, a global manufacturer of fiber optic cable and connectivity solutions, today announced that its Fujikura 100S Core Alignment Splicer has been na...

Platinum (PL) Aug 28, 2026 Neutral

Northam Platinum Holdings Limited (NPTLF) Q4 2026 Earnings Call Transcript

Northam Platinum Holdings Limited (NPTLF) Q4 2026 Earnings Call Transcript

Silver (SI) Aug 28, 2026 Neutral

Is the Options Market Predicting a Spike in First Majestic Silver Stock?

Investors need to pay close attention to AG stock based on the movements in the options market lately.

High Grade Copper (HG) Aug 28, 2026 Neutral

Palamina's Colt Silver Spin Out Receives FTA Environmental Permit for the Galena Silver Copper Project in Peru

Toronto, Ontario--(Newsfile Corp. - August 28, 2026) - Palamina Corp. (TSXV: PA) (OTCQB: PLMNF) holds a 100% interest in its Canadian subsidiary, Colt Silver Corp. ("Colt") which through its Peruvi...

Silver (SI) Aug 28, 2026 Neutral

Palamina's Colt Silver Spin Out Receives FTA Environmental Permit for the Galena Silver Copper Project in Peru

Toronto, Ontario--(Newsfile Corp. - August 28, 2026) - Palamina Corp. (TSXV: PA) (OTCQB: PLMNF) holds a 100% interest in its Canadian subsidiary, Colt Silver Corp. ("Colt") which through its Peruvi...