The large speculators (non-commercials) increased their net-short position in silver for the third straight week. The last time they were net-short was in 2003 when silver rallied from $4.50 to $8.35 in 10-months (see bullish silver chart). Gold's COT improved with commercials reducing their short positions by 32,330 contracts. However, it remains moderately bearish at 351,473. Read full article here.