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

Jul 23, 2026 Positive

Billionaire John Paulson says gold bull market still in early stages

The gold market continues to struggle to hold gains above $4,100 an ounce, and although prices are consolidating at a critical support level, one major gold investor is not giving up on the rally a...

Jul 22, 2026 Positive

John Paulson says we are in the early stages of a long-term bull market for gold

"I do think we're in the beginnings or the early stages of a long-term bull market for gold," Paulson said. The billionaire investor said demand for bullion continues to broaden, led by central ban...

Jul 22, 2026 Positive

John Paulson: Gold in the early stages of a long-term bull market

Paulson & Company's John Paulson and NovaGold's Thomas Kaplan join 'The Exchange' to discuss Paulson's thoughts on the price of gold, how to invest in the commodity and much more.

Gold Mini (GM) Jul 22, 2026 Neutral

Independence Gold Discovers New High-Grade Goofy Vein Returning 14.70 g/t Gold over 9.10 Metres at the 3Ts Project, BC

Vancouver, British Columbia--(Newsfile Corp. - July 22, 2026) - Independence Gold Corp. (TSXV: IGO) (OTCQB: IEGCF) (FSE: 625) (the "Company") is pleased to announce the discovery of the new Goofy V...

High Grade Copper (HG) Jul 22, 2026 Neutral

Aftermath Silver Begins Drilling at Berenguela Eastern Copper Target and Challacollo Silver Project in Chile

Vancouver, British Columbia--(Newsfile Corp. - July 22, 2026) - Aftermath Silver Ltd. (TSXV: AAG) (OTCQX: AAGFF) (the "Company" or "Aftermath Silver") is pleased to announce that drilling has comme...

Silver (SI) Jul 22, 2026 Neutral

Aftermath Silver Begins Drilling at Berenguela Eastern Copper Target and Challacollo Silver Project in Chile

Vancouver, British Columbia--(Newsfile Corp. - July 22, 2026) - Aftermath Silver Ltd. (TSXV: AAG) (OTCQX: AAGFF) (the "Company" or "Aftermath Silver") is pleased to announce that drilling has comme...

Gold Mini (GM) Jul 22, 2026 Negative

Fresnillo's Gold, Silver Production Falls on Lower Ore Grades

Gold and silver production fell due to lower ore grades at key mines, but the miner backed its full-year guidance.

Silver (SI) Jul 22, 2026 Negative

Fresnillo's Gold, Silver Production Falls on Lower Ore Grades

Gold and silver production fell due to lower ore grades at key mines, but the miner backed its full-year guidance.

Euro FX (E6) Jul 22, 2026 Neutral

Gold (XAUUSD) & Silver Price Forecast: Fed and ECB Meetings Can Gold Reach $4,200?

Gold and silver rally ahead of the Fed and ECB meetings as central bank buying and industrial demand support precious metals. Explore today's outlook.

Gold Mini (GM) Jul 22, 2026 Neutral

Gold (XAUUSD) & Silver Price Forecast: Fed and ECB Meetings Can Gold Reach $4,200?

Gold and silver rally ahead of the Fed and ECB meetings as central bank buying and industrial demand support precious metals. Explore today's outlook.

Silver (SI) Jul 22, 2026 Neutral

Gold (XAUUSD) & Silver Price Forecast: Fed and ECB Meetings Can Gold Reach $4,200?

Gold and silver rally ahead of the Fed and ECB meetings as central bank buying and industrial demand support precious metals. Explore today's outlook.

Silver (SI) Jul 22, 2026 Neutral

Silver One Resources Announces Restart of Drilling Program at Candelaria

Vancouver, British Columbia--(Newsfile Corp. - July 22, 2026) - Silver One Resources Inc. (TSXV: SVE) (OTCQX: SLVRF) (FSE: BRK1) ("Silver One" or the "Company") announces that drilling activities a...

Gold Mini (GM) Jul 22, 2026 Positive

Gold and Silver Price Forecast: Gold Eyes $4,200 as Silver Gains Momentum

Gold and silver prices are gaining momentum as easing geopolitical risks and technical buying bring the key resistance levels of $4,200 and $64 into focus.

Silver (SI) Jul 22, 2026 Positive

Gold and Silver Price Forecast: Gold Eyes $4,200 as Silver Gains Momentum

Gold and silver prices are gaining momentum as easing geopolitical risks and technical buying bring the key resistance levels of $4,200 and $64 into focus.

Gold Mini (GM) Jul 22, 2026 Positive

Gold Rises Amid Hopes for U.S.-Iran Deal

Gold advanced in Asian trade. Prices were likely supported by a broad pullback in global bond yields and a softer dollar as markets weigh the prospect of renewed U.S.-Iran talks, said Tickmill.

Gold Mini (GM) Jul 22, 2026 Neutral

Avidian Gold Corp. Announces Change of Auditor

TORONTO, ON / ACCESS Newswire / July 21, 2026 / Avidian Gold Corp. ("Avidian" or the "Corporation") (TSXV:AVG) today announced that it has changed its auditor from McGovern Hurley LLP (the "Former ...

High Grade Copper (HG) Jul 21, 2026 Neutral

Copper One Resources Mobilizes Fully Funded 2,400 Metre Diamond Drill Program at Redonda Copper-Molybdenum Project

Vancouver, BC – July 21, 2026 - TheNewswire – Copper One Resources Corp. (“Copper One”) (CSE: CEXY | OTCID: CEXYF | FSE: IW8 | WKN: A42AGR) (the “ Company ”) is pleased to announce the mobilization...

Hot Rolled Coil Steel (HRC) Jul 21, 2026 Neutral

Steel Dynamics, Inc. (STLD) Q2 2026 Earnings Call Transcript

Steel Dynamics, Inc. (STLD) Q2 2026 Earnings Call Transcript

Gold Mini (GM) Jul 21, 2026 Positive

Gold rallies as buyers ignore higher yields, oil shock - Kitco PM Report

Spot gold and silver prices are sharply higher in late-afternoon U.S. trading Tuesday, as short covering and renewed haven demand lifted metals despite rising Treasury yields, a firmer U.S. dollar ...

Gold Mini (GM) Jul 21, 2026 Neutral

New Found Gold Continues to Deliver High-Grade Gold at Queensway

23.7 g/t Au over 15.88 m from Lotto Channels43.5 g/t Au over 4.75 m from Lotto Underground Infill Drilling Vancouver, British Columbia--(Newsfile Corp. - July 21, 2026) - New Found Gold Corp. (TSXV...

Gold Mini (GM) Jul 21, 2026 Positive

Gold (XAU/USD) Price Forecast: Breakout Signals Point to Higher Prices

Gold has broken above key trend resistance, with a potential double bottom developing, but a major test near $4,203 could determine whether the reversal gains momentum.

Gold Mini (GM) Jul 21, 2026 Positive

KGLD: Gold Enters Bear Territory, Time To Get Bullish

Kurv Gold Enhanced Income ETF offers dynamic gold exposure with an options-based income strategy, currently with a distribution yielding 18.54% and paying monthly. KGLD's partial overwrite and use ...

Platinum (PL) Jul 21, 2026 Positive

Gold (XAUUSD), Silver, Platinum Forecasts – Gold Rallies As Traders Ignore Rising Yields

Silver and platinum have also gained strong upside momentum in today's trading session.

Silver (SI) Jul 21, 2026 Positive

Gold (XAUUSD), Silver, Platinum Forecasts – Gold Rallies As Traders Ignore Rising Yields

Silver and platinum have also gained strong upside momentum in today's trading session.