Gold Non-Commercial Speculator Positions:
Large precious 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 190,877 contracts in the data reported through Tuesday February 6th. This was a weekly reduction of -16,385 contracts from the previous week which had a total of 207,262 net contracts.
Speculative positions fell for a second straight week this week and brought the overall bullish level under the +200,000 contract level for the first time in five weeks.
Gold Commercial Positions:
The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -205,451 contracts on the week. This was a weekly uptick of 19,625 contracts from the total net of -225,076 contracts reported the previous week.
GLD (NYSE:GLD) ETF:
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the GLD ETF, which tracks the price of gold, closed at approximately $125.38 which was a loss of $-1.42 from the previous close of $126.8, according to unofficial market data.
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