Speculators increased bullish bets on Silver

FXStreet (Mumbai) - As per the data released by the Commodity Futures Trading Commission (CFTC), speculators added to their silver bullish bets last week after four weeks of decline.

The non-commercial futures contracts of Comex silver futures saw a weekly change of +4,693 contracts to total a net position of +27,623 contracts. The weekly bullish positions rose by 1,043 contracts, while bearish positions fell by by 3,650 contracts.

Meanwhile, during the reporting time period - April 28th to May 5th – Silver prices witnessed a modest decline from USD 16.63/Oz to USD 16.57/Oz.