Metals
Gold, silver, copper, platinum and palladium.
- Small speculators
- 66,167
- Large speculators
- 309,873
- Commercials
- -376,040
- Open interest
- 892,200
Week ending 2026-10-06. Speculators are net long, and the trade is being taken by commercials.Large speculators, week on week:23,917 contracts
Reading this chart
Commercials are the companies with a reason to be in the market anyway: a miner selling forward, an airline buying fuel, a bank hedging a book of stock. Large speculators are the funds. Small speculators are everybody too small to have to report.
The three sum to zero every week, so when one group leans hard, some other group is holding the opposite side. A large speculator net short in stock index futures is often a hedge against shares held elsewhere, not a bet the market falls.
This page adds up every market in the category. Contracts are not the same size across markets, so the total shows which way the group is leaning rather than an amount of money.
Source: Commitments of Traders, U.S. Commodity Futures Trading Commission. Figures are contracts held, not dollars.