Weekly Large Trader COT Report: Gold
Gold speculative positions rose last week to +59,040 contracts
GOLD Non-Commercial Positions:
Gold speculator and large futures traders sharply added to their gold bullish positions last week, pushing positions higher for the third out of the last four weeks and to the highest level since November, 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 +59,040 contracts in the data reported through January 26th. This was a weekly change of +15,346 contracts from the previous week’s total of +43,694 net contracts that was registered on January 19th.
The rise in the weekly net speculator positions (+15,346 net contracts) was due to a gain in the weekly bullish positions by 12,151 contracts that combined with a decline in the weekly bearish positions by -3,195 contracts.
Gold bullish bets are now at the highest level since November 10th when net positions equaled +68,389 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 -59,833 contracts through January 26th. This was a weekly change of -19,690 contracts from the total net position of -40,143 contracts on January 19th.
GLD ETF:
Over the weekly reporting time-frame, from Tuesday January 19th to Tuesday January 26th, the price of the (GLD) Gold ETF , which tracks the gold spot price, rose from approximately $103.98 to $107.29, according to ETF price data of the SPDR Gold Trust ETF (N:GLD).
*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).
Risk Disclosure: Foreign Currency trading and trading on margin carries a high level of risk and can result in loss of part or all of your investment. Due to the level of risk and market volatility, Foreign Currency trading may not be suitable for all investors and you should not invest money you cannot afford to lose. Before deciding to invest in the foreign currency exchange market you should carefully consider your investment objectives, level of experience, and risk appetite. You should be aware of all the risks associated with foreign currency exchange trading, and seek advice from an independent financial advisor should you have any doubts. All information and opinions on this website are for general informational purposes only and do not constitute investment advice.