Silver net bullish positions rise for the third week

FXStreet (Mumbai) - As per the data released by the US Commodity Futures Trading Commission (CFTC), speculators sharply raised their silver bullish bets last week and pushed their positions higher for a third straight week.

During the reporting time period - May 12th to May 19th – the non-commercial futures contracts of silver futures witnessed a weekly change of 21,942 contracts to total a net position of 51,280 contracts. The weekly bullish positions rose by 2869 contracts, while the bearish positions fell by -19,073 contracts.

Meanwhile, during the reporting time period, silver rose from approximately USD 16.52/Oz to USD 17.07/Oz.