Silver net bullish positions dropped to the lowest since December

FXStreet (Mumbai) - The data released by the Commodity Futures Trading Commission (CFTC) showed speculators cut back on their silver bullish bets last week for a third straight week, thereby taking the total position to its lowest since December.

The non-commercial futures contracts of Comex silver futures saw a weekly change of - 10,220 contracts to total a net position of +24,325 contracts. The weekly bullish positions fell by -569 contracts, while the weekly bearish positions rose by +9,651 contracts.

Meanwhile, during the reporting time period - April 14th to April 21st- Silver declined from USD 16.16/Oz to USD 16.00/Oz levels.