Weekly CFTC Net Speculator Gold Report
Gold speculative positions edged up last week to +75,723 contracts
GOLD Non-Commercial Positions:
Gold speculator and large futures traders sharply slightly edged their gold bullish positions higher last week following a sharp decline in positions the previous 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 +75,723 contracts in the data reported through June 16th. This was a weekly change of +633 contracts from the previous week’s total of +75,090 net contracts that was registered on June 9th.
The tick up in the weekly net speculator positions (+633 net contracts) was due to a gain in the weekly bullish positions by 4,240 contracts that just overtook the gain in the weekly bearish positions by 3,607 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) trimmed their overall bearish positions for a fourth week to a net total position of -76,637 contracts through June 16th. This was a weekly change of +1,952 contracts from the total net position of -78,589 contracts on June 9th.
GLD ETF rises:
Over the weekly reporting time-frame, from Tuesday, June 9th to Tuesday, June 16th, the price of the SPDR Gold Trust ETF (ARCA:GLD), which tracks the gold spot price, rose from approximately $112.82 to $113.32, 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).