Weekly Large Trader COT Report: Gold
Gold speculative positions jumped last week to +95,114 contracts
GOLD Non-Commercial Positions:
Gold speculator and large futures traders raised their gold bullish positions last week to boost the bullish positions for a second week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.
The non-commercial futures contracts of Comex gold futures, traded by large speculators and hedge funds, totaled a net position of +95,114 contracts in the data reported through June 23rd. This was a weekly change of +19,391 contracts from the previous week’s total of +75,723 net contracts that was registered on June 16th.
The rise in the weekly net speculator positions (+19,391 net contracts) was due to a gain in the weekly bullish positions by 11,891 contracts that combined with a decline in the weekly bearish positions by -7,500 contracts.
Gold Commercial Positions:
In the commercial positions for gold on the week, the commercials (hedgers or traders engaged in buying and selling for business purposes) added their overall bearish positions to a net total position of -100,888 contracts through June 23rd. This was a weekly change of -24,251 contracts from the total net position of -76,637 contracts on June 16th.
GLD ETF:
Over the weekly reporting time-frame, from Tuesday June 16th to Tuesday June 23rd, the price of the SPDR Gold Trust ETF (ARCA:GLD), which tracks the gold spot price, declined from approximately $113.32 to $112.89, according to ETF price data from Yahoo (NASDAQ:YHOO) Finance.
*COT Report: The weekly commitment of traders report summarizes the total trader positions for open contracts in the futures trading markets. The CFTC categorizes trader positions according to commercial hedgers (traders who use futures contracts for hedging as part of the business), non-commercials (large traders who speculate to realize trading profits) and nonreportable traders (usually small traders/speculators).