CoT Gold & Silver Report hot off the press...

And it continues last week's negative lurch... Once again, the wrong people are warming up to gold and silver, and the wrong ones are losing their taste for PMs.  Edit (2/20 @ 11:36 am)  Adding the CoT graphic of Si showing braver speculators, shorter commercials and surging open interest.

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GOLD - COMMODITY EXCHANGE INC.                                       Code-088691
OPTION AND FUTURES COMBINED POSITIONS AS OF 02/15/11          |
--------------------------------------------------------------| NONREPORTABLE
      NON-COMMERCIAL      |   COMMERCIAL    |      TOTAL      |   POSITIONS
--------------------------|-----------------|-----------------|-----------------
  Long  | Short  |Spreads |  Long  | Short  |  Long  | Short  |  Long  | Short
--------------------------------------------------------------------------------
(CONTRACTS OF 100 TROY OUNCES)                       OPEN INTEREST:      664,111
COMMITMENTS
 243,160   43,735  130,494  213,074  460,251  586,728  634,479   77,382   29,631

CHANGES FROM 02/08/11 (CHANGE IN OPEN INTEREST:     10,964)
   6,022   -2,123    3,849     -383   10,818    9,488   12,544    1,476   -1,580

PERCENT OF OPEN INTEREST FOR EACH CATEGORY OF TRADER
    36.6      6.6     19.6     32.1     69.3     88.3     95.5     11.7      4.5

NUMBER OF TRADERS IN EACH CATEGORY (TOTAL TRADERS:      398)
     236       82      148       62       60      342      252

SILVER - COMMODITY EXCHANGE INC.                                     Code-084691
OPTION AND FUTURES COMBINED POSITIONS AS OF 02/15/11          |
--------------------------------------------------------------| NONREPORTABLE
      NON-COMMERCIAL      |   COMMERCIAL    |      TOTAL      |   POSITIONS
--------------------------|-----------------|-----------------|-----------------
  Long  | Short  |Spreads |  Long  | Short  |  Long  | Short  |  Long  | Short
--------------------------------------------------------------------------------
(CONTRACTS OF 5,000 TROY OUNCES)                     OPEN INTEREST:      203,696
COMMITMENTS
  50,871    6,769   70,722   45,474  104,248  167,068  181,739   36,628   21,957

CHANGES FROM 02/08/11 (CHANGE IN OPEN INTEREST:     14,073)
   5,977    1,103    5,058    3,396    8,530   14,430   14,690     -357     -617

PERCENT OF OPEN INTEREST FOR EACH CATEGORY OF TRADER
    25.0      3.3     34.7     22.3     51.2     82.0     89.2     18.0     10.8

NUMBER OF TRADERS IN EACH CATEGORY (TOTAL TRADERS:      208)
     110       40       71       38       44      176      133