CFTC: COMEX Silver Speculative Net Longs Fall to 5,735 Contracts

Speculative positioning in COMEX silver has been cut to its thinnest in roughly eight months, a sign that momentum-driven money has largely stepped back from the metal. That matters less as a directional signal than as a gauge of crowding: with spec longs already pared back, the market's vulnerability to further long liquidation is reduced, though it also means less fuel for a sharp squeeze. Whether this reflects a broader rotation out of precious metals or simply a pause is the open question, and next week's report will show if the retreat continues.