Gold Speculators bullish positions advanced to highest level in six weeks

December 7, 2014

By CountingPips.com | Weekly CFTC Net Speculator Gold Report

Gold positions rise to net +89,330 contracts

GOLD: Large traders and futures market speculators raised their overall bullish bets in gold last week after a slight decline the previous week and brought net positions to highest level in 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 +89,330 contracts in the data reported through December 2nd. This was a weekly change of +13,123 contracts from the previous week’s total of +76,207 net contracts that was registered on November 25th.

Last week’s rise in the net speculator positions (+13,123 contracts) was due to a gain in gold bullish positions by +3,241 contracts which was combined with a fall in the weekly bearish positions by -9,882 contracts. The overall gold position is now at the highest level since October 28th when overall net bullish positions totaled +100,739 contracts.

Over the weekly reporting time-frame, from Tuesday November 25th to Tuesday December 2nd, the gold price traded virtually unchanged from approximately $1,197.80 to $1,199.40 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
10/28/2014 414410 195885 95146 100739 -7245 1229.40
11/04/2014 417377 176899 113674 63225 -37514 1167.70
11/11/2014 443422 177268 121225 56043 -7182 1163.00
11/18/2014 459657 187955 106533 81422 25379 1197.10
11/25/2014 388145 167394 91187 76207 -5215 1197.80
12/02/2014 368121 170635 81305 89330 13123 1199.40

*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.comForex Trading Apps

 

 

 

 

 

InvestMacro

InvestMacro is a finance website dedicated to helping investors make better informed decisions through educational content and products