Weekly Large Trader COT Report: Gold
Gold speculative positions grew last week to +76,645 contracts
Gold Non-Commercial Positions:
Gold speculator and large futures traders boosted their gold bullish positions higher last week for a second consecutive week and to the highest level since June, 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 +76,645 contracts in the data reported through September 29th. This was a weekly change of +15,520 contracts from the previous week’s total of +61,125 net contracts that was registered on September 22nd.
The rise in the weekly net speculator positions (+15,520 net contracts) was due to a small gain in the weekly bullish positions by +712 contracts which combined with a large decrease in the weekly bearish positions by -14,808 contracts.
The net speculator contracts are now at the highest bullish position since June 23rd when net positions equaled +95,114 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 to a net total position of -73,143 contracts through September 29th. This was a weekly change of -15,915 contracts from the total net position of -57,228 contracts on September 22nd.
GLD ETF:
Over the weekly reporting time-frame, from Tuesday September 22nd to Tuesday September 29th, the price of the (GLD) Gold ETF , which tracks the gold spot price, edged up from approximately $107.79 to $107.98, according to ETF price data of the SPDR Gold Trust ETF (NYSE:GLD).
Last Six 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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