Commodities in demand as dollar and real yields drop: COT report

Commodities in demand as dollar and real yields drop: COT report

August 10, 2020 | 4:48 PM

by Ole Hansen, Head of Commodity Strategy Saxo Bank

The Commitments of Traders (COT) report covering positions held and changes made by money managers in the week to August 4. Appetite for risk during this period remained strong with dollar weakness and rising negative real yields feeding a rise in prices across global asset markets, not least in commodities where gains were led by natural gas, silver and softs. Buying, however - as opposed to recent weeks - were not broad-based with losses seen in platinum, copper and grains.This summary highlights futures positions and changes made by speculators such as hedge funds and CTA's across 24 major commodity futures up until last Tuesday, August 4. Appetite for risk during this period remained strong with dollar weakness