COT Weekly Update
Commitments of Traders – Smart Money Positioning
Data as of: 04/07/26Key Signals This Week
- Gold: Specs reducing longs (-12,022), Commercials less bearish, crowded long trade
- JPY: Commercials accumulating Yen – potential USD weakness ahead
- British: Commercials net long (+62,698) – bullish bias
- Canadian: Commercials net long (+58,038) – bullish bias
Precious Metals (COMEX)
| Contract | Commercial Net | Spec Net | Weekly Change | Signal |
|---|---|---|---|---|
| Gold | -193,751 | +156,305 | Specs: -12,022 | Crowded Long |
| Silver | -38,915 | +23,417 | – | Neutral |
| Copper | -51,615 | +40,227 | – | Neutral |
Energy (NYMEX)
| Contract | Commercial Net | Spec Net | Weekly Change | Signal |
|---|---|---|---|---|
| Crude Oil | -21,990 | +26,083 | – | Neutral |
Crude Oil: Commercials and specs largely unchanged week-over-week.
Equity Indices (CME)
| Contract | Commercial Net | Spec Net | Weekly Change | Signal |
|---|---|---|---|---|
| S&P 500 | -958 | -1,322 | Specs: +19,188 | Neutral |
| Nasdaq 100 | -6,794 | +9,915 | Specs: +5,812 | Neutral |
S&P 500: Specs covering shorts (+22,160) but still heavily short (-165,454). Nasdaq flipped to spec net short.
Currencies (CME)
| Contract | Commercial Net | Spec Net | Weekly Change | Signal |
|---|---|---|---|---|
| Euro FX | -33,150 | -7,541 | Specs: -16,820 | Neutral |
| Japanese Yen | +90,396 | -93,742 | Specs: -30,936 | Contrarian Bullish |
| British Pound | +62,698 | -56,354 | – | Contrarian Bullish |
| Australian Dollar | -97,347 | +70,813 | – | Neutral |
| Canadian Dollar | +58,038 | -55,648 | Specs: -54,046 | Contrarian Bullish |
JPY: Major shift – Commercials flipped net long (+15,007 from -14,729). GBP Commercials surging. EUR specs unwinding.
What is the COT Report?
The Commitments of Traders (COT) report is released weekly by the CFTC. It shows how different trader groups are positioned in futures markets:
- Commercials (Smart Money): Hedgers with real business exposure – often right at turning points
- Non-Commercials (Specs): Hedge funds and large speculators – often wrong at extremes
Release: Every Friday at 3:30 PM ET (Saturday 4:30 AM Singapore)