Gold Non-Commercial Speculator Positions:
Large metals speculators decreased their bullish net positions in the Gold futures markets this 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 Gold futures, traded by large speculators and hedge funds, totaled a net position of 96,512 contracts in the data reported through Tuesday June 19th. This was a weekly decline of -23,728 contracts from the previous week which had a total of 120,240 net contracts.
The speculative gold position has now fallen for four out of the last six weeks and for six out of the past ten weeks to back below the +100,000 net position for the first time in about a month.
Gold Commercial Positions:
The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -114,124 contracts on the week. This was a weekly boost of 26,463 contracts from the total net of -140,587 contracts reported the previous week.
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the GLD ETF, which tracks the price of gold, closed at approximately $120.80 which was a decline of $-2.02 from the previous close of $122.82, according to unofficial market data.