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

Aug 11, 2026 Neutral

NOVAGOLD & Paulson Announce the Appointment of Endeavour Financial and Macquarie Capital as Financial Advisors to the Donlin Gold Project

VANCOUVER, British Columbia, Aug. 11, 2026 (GLOBE NEWSWIRE) -- NOVAGOLD RESOURCES INC. (“NOVAGOLD” or the “Company”) (NYSE American, TSX: NG) and Donlin Gold Holdings LLC (DGH), 100% wholly-owned b...

Aug 11, 2026 Positive

Nvidia partners with Apollo, BlackRock, and others on $500B AI financing push

Nvidia Corp (NASDAQ:NVDA, XETRA:NVD) is partnering with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR to build financing platforms aimed at mobilizing more than $500 billion in t...

Gold Mini (GM) Aug 07, 2026 Neutral

Equinox Gold Corp. (EQX:CA) Q2 2026 Earnings Call Transcript

Equinox Gold Corp. (EQX:CA) Q2 2026 Earnings Call Transcript

High Grade Copper (HG) Aug 07, 2026 Negative

US Dollar, Gold and Copper Forecast: Key Levels Set Up the Next Big Move

Dollar Index weakness, a gold breakout and copper's pullback put key support and resistance levels in focus ahead of the next major market move.

Gold Mini (GM) Aug 07, 2026 Negative

US Dollar, Gold and Copper Forecast: Key Levels Set Up the Next Big Move

Dollar Index weakness, a gold breakout and copper's pullback put key support and resistance levels in focus ahead of the next major market move.

Silver (SI) Aug 07, 2026 Positive

Santacruz Silver: Well Positioned And Undervalued

Santacruz Silver Mining is rated a value Buy, trading at a significant discount to sector P/E and EV/EBITDA multiples. SCZM's near-term catalysts include Bolivar mine ramp-up and Soracaya project p...

Gold Mini (GM) Aug 07, 2026 Positive

The smart way to invest in gold right now as the dollar slips

Also in Weekend Reads: Kevin O'Leary's investing strategy, a 9% dividend paired with lower stock-market risk and advice from the Moneyist.

Gold Mini (GM) Aug 07, 2026 Positive

Gold Went Flat in 2026. This Award-Winning Fund Still Milks 13% Income Out of It

Gold's 2025 monster run looks like a distant memory. The SPDR Gold Shares (NYSEARCA:GLD) is down 5.59% year-to-date through August 4, and holders are paying 0.40% per year to sit on bullion that pa...

Gold Mini (GM) Aug 07, 2026 Positive

Gold, silver rally as weak payrolls cut Fed hike pressure - Kitco PM Report

Spot gold and silver prices rallied after the North American equities close Friday, as a negative July payrolls print pulled Treasury yields lower, softened the U.S. dollar and eased pressure on th...

Silver (SI) Aug 07, 2026 Positive

Gold, silver rally as weak payrolls cut Fed hike pressure - Kitco PM Report

Spot gold and silver prices rallied after the North American equities close Friday, as a negative July payrolls print pulled Treasury yields lower, softened the U.S. dollar and eased pressure on th...

Gold Mini (GM) Aug 07, 2026 Neutral

Lundin Gold Inc. (LUG:CA) Q2 2026 Earnings Call Transcript

Lundin Gold Inc. (LUG:CA) Q2 2026 Earnings Call Transcript

Gold Mini (GM) Aug 07, 2026 Neutral

SLV vs GDX: Is a Silver ETF a Better Buy Than a Gold Miner Fund in 2026?

The iShares Silver Trust provides direct exposure to physical silver bullion, while the VanEck Gold Miners ETF invests in companies that extract gold. The iShares Silver Trust has delivered signifi...

Silver (SI) Aug 07, 2026 Neutral

SLV vs GDX: Is a Silver ETF a Better Buy Than a Gold Miner Fund in 2026?

The iShares Silver Trust provides direct exposure to physical silver bullion, while the VanEck Gold Miners ETF invests in companies that extract gold. The iShares Silver Trust has delivered signifi...

Gold Mini (GM) Aug 07, 2026 Neutral

Allied Gold Announces Voting Results From Annual Meeting of Shareholders

TORONTO, Aug. 07, 2026 (GLOBE NEWSWIRE) -- Allied Gold Corporation (TSX: AAUC, NYSE: AAUC) herein announces the results of the votes cast at the annual meeting of shareholders of the Company held t...

Gold Mini (GM) Aug 07, 2026 Neutral

Granada Gold Mine Announces Filing of NI 43-101 Technical Report for The Granada Gold Project, Quebec, with Updated Resource Estimate

Rouyn Noranda, QC – August 7, 2026 – TheNewswire - Granada Gold Mine (TSXV: GGM) (OTC: GBBFF) (Frankfurt: B6D) (the “Company” or “Granada”) is pleased to announce the filing on SEDAR ( www.sedar.co...

High Grade Copper (HG) Aug 07, 2026 Neutral

Faraday Copper Reports Second Quarter 2026 Financial Results

VANCOUVER, BC / ACCESS Newswire / August 7, 2026 / Faraday Copper Corp. ("Faraday" or the "Company") (TSX:FDY) announces its financial results for the three and six months ended June 30, 2026. High...

Gold Mini (GM) Aug 07, 2026 Positive

Gold breaks out following soft jobs data but could still struggle to get to $4,500

After two months of consolidation and testing support at $4,000 an ounce, the gold market has broken convincingly to the upside as the precious metal sees its best weekly performance since the star...

Platinum (PL) Aug 07, 2026 Positive

Gold (XAUUSD), Silver, Platinum Forecasts – Gold Rallies As Traders Bet On Dovish Fed

Precious metals markets rally, supported by weaker dollar and falling Treasury yields.

Silver (SI) Aug 07, 2026 Positive

Gold (XAUUSD), Silver, Platinum Forecasts – Gold Rallies As Traders Bet On Dovish Fed

Precious metals markets rally, supported by weaker dollar and falling Treasury yields.

Hot Rolled Coil Steel (HRC) Aug 07, 2026 Negative

Starlink's mobile ambitions could run into a wall of steel and concrete

SpaceX says Starlink could provide 'better service' than AT&T, Verizon, and T-Mobile by next year. That might be easier said than done, an analyst who studied the telecom industry for decades says.

Silver (SI) Aug 07, 2026 Neutral

Kootenay Silver Files NI 43-101 Technical Report Supporting Positive PEA for the La Cigarra Silver Project

VANCOUVER, BC, Aug. 7, 2026 /PRNewswire/ -- Kootenay Silver Inc. (TSXV: KTN) (OTCQX: KOOYF) (the "Company" or "Kootenay") is pleased to announce that it has filed the independent National Instrumen...

High Grade Copper (HG) Aug 07, 2026 Neutral

Drilling Underway at Pacific Ridge's RDP Copper-Gold Project

Vancouver, British Columbia--(Newsfile Corp. - August 7, 2026) - Pacific Ridge Exploration Ltd. (TSXV: PEX) (OTCQB: PEXZF) (FSE: PQW) ("Pacific Ridge" or the "Company") is pleased to announce that ...

High Grade Copper (HG) Aug 07, 2026 Positive

Southern Copper (SCCO) is a Top-Ranked Growth Stock: Should You Buy?

Whether you're a value, growth, or momentum investor, finding strong stocks becomes easier with the Zacks Style Scores, a top feature of the Zacks Premium research service.

Silver (SI) Aug 07, 2026 Positive

Pan American Silver (PAAS) Q2 Earnings Preview: What You Should Know Beyond the Headline Estimates

Besides Wall Street's top-and-bottom-line estimates for Pan American Silver (PAAS), review projections for some of its key metrics to gain a deeper understanding of how the company might have fared...