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Gold Speculators Raise Net Bullish Positions For 5th Straight Week

Published 09/07/2015, 01:29 AM
Updated 07/09/2023, 06:31 AM

Weekly Large Trader COT Report: Gold

Gold Chart

Gold speculative positions rose to +72,685 contracts

GOLD Non-Commercial Positions:

Gold speculator and large futures traders sharply slightly edged their gold bullish positions higher last week for a fifth straight week of gains, 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 +72,685 contracts in the data reported through September 1st. This was a weekly change of +1,952 contracts from the previous weekâs total of +70,733 net contracts that was registered on August 25th.

The increase in the weekly net speculator positions (+1,952 net contracts) was due to a bigger decline in the weekly bearish positions by 9,092 contracts that overtook a decrease in the weekly bullish positions by 7,140 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 to their overall bearish positions for a fourth week to a net total position of -69,088 contracts through September 1st. This was a weekly change of -6,452 contracts from the total net position of -62,636 contracts on August 25th.

GLD ETF:

Over the weekly reporting time-frame, from Tuesday August 25th to Tuesday September 1st, the price of the (NYSE:GLD) Gold ETF , which tracks the gold spot price, edged higher from approximately $109.16 to $109.20, according to ETF price data of the SPDR Gold Trust ETF (GLD).

Last 6 Weeks of Large Trader Positions

*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).

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Latest comments

I also remember there was a well documented visit by CNBC's Bob Pisani to GLD's gold vault. This visit was organized by GLD's management to prove the existence of GLD's gold but the gold bar held up by Mr. Pisani had the serial number ZJ6752 which did not appear on the most recent bar list at that time. It was later discovered that this "GLD" bar was actually owned by ETF Securities.
Hello Zach, you seem to have some familiarity with the SPDR gold trust. I've been trying to do my due diligence on this fund but have encountered some issues in finding information pertaining to its insurance. Would you happen to know some details regarding GLD's insurance for its physical gold? Relevant:. . "Did anyone try calling the GLD hotline in search of numerical details on GLD's insurance? The prospectus vaguely states "The Custodian maintains insurance with regard to its business on such terms and conditions as it considers appropriate which does not cover the full amount of gold held in custody." When I specifically asked for clarification on this clause and about how much of the gold was insured, the representative proceeded act as if he didn't know and said they were just the "marketing agent" for GLD. What kind of marketing agent doesn't know such basic information about a product they are marketing? It seems like they are deliberately hiding information from investors."
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