COT Weekly Update
Commitments of Traders – Smart Money Positioning
Data as of: 09/01/26Key Signals This Week
- Gold: Commercials -264,718 vs Specs +228,124 — crowded long, bearish risk (specs -15,210 wk)
- JPY: Commercials net long +97,561 vs Specs -92,227 — contrarian bullish JPY (USD weakness) (specs -28,929 wk)
- British Pound: Commercials +45,803 vs Specs -49,575 — contrarian bullish (specs -5,051 wk)
- Canadian: Commercials +115,282 vs Specs -108,143 — extreme divergence, contrarian bullish (specs +13,379 wk)
- Euro: Commercials -8,727 vs Specs -24,925 — neutral (specs +11,427 wk)
- S&P 500: Commercials -16,018 vs Specs -89,371 — specs net short — contrarian bullish
Precious Metals (COMEX)
| Contract | Commercial Net | Spec Net | Weekly Change | Signal |
|---|---|---|---|---|
| Gold | -264,718 | +228,124 | Specs: -15,210 | Crowded Long |
| Silver | -45,280 | +26,739 | – | Neutral |
| Copper | -92,107 | +80,869 | – | Neutral |
Energy (NYMEX)
| Contract | Commercial Net | Spec Net | Weekly Change | Signal |
|---|---|---|---|---|
| Crude Oil | -13,889 | +35,574 | – | Neutral |
Crude Oil: Specs net long +35,574 vs Commercials net short -13,889 — monitor positioning for unwinding.
Equity Indices (CME)
| Contract | Commercial Net | Spec Net | Weekly Change | Signal |
|---|---|---|---|---|
| S&P 500 | -16,018 | -89,371 | Specs: -11,196 | Contrarian Bullish |
| Nasdaq 100 | -40,486 | +27,077 | Specs: +15,950 | Neutral |
S&P 500: Commercials -16,018, Specs -89,371 — specs net short, contrarian-bullish lean. Nasdaq 100: Commercials -40,486, Specs +27,077 — specs net long.
Currencies (CME)
| Contract | Commercial Net | Spec Net | Weekly Change | Signal |
|---|---|---|---|---|
| Euro FX | -8,727 | -24,925 | Specs: +11,427 | Neutral |
| Japanese Yen | +97,561 | -92,227 | Specs: -28,929 | Contrarian Bullish |
| British Pound | +45,803 | -49,575 | Specs: -5,051 | Bullish British |
| Australian Dollar | +18,810 | -39,406 | Specs: +5,049 | Neutral |
| Canadian Dollar | +115,282 | -108,143 | Specs: +13,379 | Contrarian Bullish |
JPY commercials net long +97,561 vs specs -92,227 — contrarian-bullish JPY / USD-weakness signal. CAD +115,282 vs specs -108,143 — extreme divergence, strong contrarian-bullish setup. GBP commercials +45,803 vs specs -49,575 — sustained contrarian bullish. EUR commercials -8,727 while specs -24,925 — neutral. AUD commercials +18,810, specs -39,406.
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)