How does the position of the link in source code affect link value?
For the most part the answer to this question is that location within source code is not terribly important and has little or no effect on link value. There is one factor which may influence the position of a link within source code and that is the actual size of the page. The page size is important because if a page is too big a spider may not crawl the entire page and depending on where the link is in source code it may not get spidered either. If the spider is set to cap crawling at a certain level then it may be best to position the link in the first portion of the linking page’s markup.
The general wisdom today is that spiders are no longer limited by page size for crawling like they have been in the past. Even so, there is another reason one might wish to place the link high up in the source code. Prominence still carries some importance and when the link is above the fold the chances are greater the link will be seen and clicked on. Somewhere in the location of where content sits is a good place to have the link rather than at the very bottom of a page.
André Scholten believes that: “With a good separation of structure and layout (HTML vs CSS) a link can be anywhere in the code while it can be also anywhere on screen. So it doesn't matter where it's placed.”
In the end analysis it is probably better to focus on the page position, where the link is placed, rather than where the link resides in source code if you are concerned about the link value. If we assume like the experts that crawlers are no longer subject to page size crawling limitations the position of the link within source code won’t matter. As long as the link is indexed it should pass value. If you think page size might be a problem then play it safe and place the link within source code near the top of the page to ensure the link gets crawled and indexed.
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