By CountingPips.com | Weekly CFTC Net Speculator Gold Report
GOLD: Large traders and futures market speculators decreased their net gold bullish bets last week for a third consecutive week and sent the overall bullish bets to the lowest level since January, 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 +56,043 contracts in the data reported through November 11th. This was a weekly change of -7,182 contracts from the previous week’s total of +63,225 net contracts that was registered on November 4th.
The decline in the net speculator positions (-7,182 contracts) in the latest week was due to an increase in the bearish positions by 7,551 contracts that easily offset a small increase in the weekly bullish positions by just 369 contracts.
Last week’s net bullish positions fell to the lowest standing since January 21st when net positions totaled +46,583 contracts.
Over the weekly reporting time-frame, from Tuesday November 4th to Tuesday November 11th, the gold price edged slightly lower from approximately $1,167.70 to $1,163.00 per ounce, according to gold futures price data from investing.com.
Free Reports:
Last 6 Weeks of Large Trader Non-Commercial Gold Positions
| Date | Open Interest | Long Specs | Short Specs | Net Non-Commercials | Weekly Change | Gold Price |
| 10/07/2014 | 380087 | 174075 | 107628 | 66447 | 1577 | 1212.4 |
| 10/14/2014 | 397855 | 193580 | 108165 | 85415 | 18968 | 1234.3 |
| 10/21/2014 | 411057 | 207129 | 99145 | 107984 | 22569 | 1251.7 |
| 10/28/2014 | 414410 | 195885 | 95146 | 100739 | -7245 | 1229.4 |
| 11/04/2014 | 417377 | 176899 | 113674 | 63225 | -37514 | 1167.7 |
| 11/11/2014 | 443422 | 177268 | 121225 | 56043 | -7182 | 1163 |
*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). Find CFTC criteria here: (http://www.cftc.gov/MarketReports/CommitmentsofTraders/ExplanatoryNotes/index.htm).
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