Speculators increased net bullish positions in Silver for a second week

FXStreet (Mumbai) - As per the data released by the Commodity Futures Trading Commission (CFTC) showed speculators increased their silver bullish bets last week for a second straight week.

The non-commercial futures contracts of Comex silver futures, traded by large speculators and hedge funds, witnessed a weekly change of +1,715 contracts to total a net position of +29,338 contracts. The weekly bearish positions fell by 1796 contracts and the bullish positions fell by 81 contracts.

Meanwhile, during the reporting time period - May 5th to May 12th, the silver price edged down from approximately USD 16.57/Oz to USD 16.52/Oz.