By CountingPips.com | Weekly CFTC Net Speculator Gold Report
Speculator Positions see largest weekly fall of 2014
GOLD: Large traders and futures market speculators sharply cut back on their overall gold bullish bets last week as bullish positions fell to the lowest level in approximately six weeks, 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 +63,225 contracts in the data reported through November 4th. This was a weekly change of -37,514 contracts from the previous week’s total of +100,739 net contracts that was registered on October 28th.
The decrease in the net speculator positions (-37,514 contracts) last week was the largest weekly decline of 2014 and was due to a decrease in the bullish positions by -18,986 contracts combined with an increase in the weekly bearish positions by 18,528 contracts.
Over the weekly reporting time-frame, from Tuesday October 28th to Tuesday November 4th, the gold price declined from approximately $1,229.40 to $1,167.70 per ounce, according to gold futures price data from investing.com.
Last 6 Weeks of Large Trader Non-Commercial Gold Positions
Free Reports:
Get Our Free Metatrader 4 Indicators - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
| Date | Open Interest | Long Specs | Short Specs | Net Non-Commercials | Weekly Change | Gold Price |
| 09/30/2014 | 379874 | 171075 | 106205 | 64870 | 986 | 1211.60 |
| 10/07/2014 | 380087 | 174075 | 107628 | 66447 | 1577 | 1212.40 |
| 10/14/2014 | 397855 | 193580 | 108165 | 85415 | 18968 | 1234.30 |
| 10/21/2014 | 411057 | 207129 | 99145 | 107984 | 22569 | 1251.70 |
| 10/28/2014 | 414410 | 195885 | 95146 | 100739 | -7245 | 1229.40 |
| 11/04/2014 | 417377 | 176899 | 113674 | 63225 | -37514 | 1167.70 |
*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).
Article by CountingPips.com – Forex Trading Apps
