By CountingPips.com | Weekly Large Trader COT Report: Gold
Gold speculative positions rose last week to +41,659 contracts
GOLD Non-Commercial Positions:
Gold speculators and large futures traders boosted their gold bullish positions higher last week for a third consecutive 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 +41,659 contracts in the data reported through August 18th. This was a weekly change of +9,217 contracts from the previous week’s total of +32,442 net contracts that was registered on August 11th.
The rise in the weekly net speculator positions (+9,217 net contracts) was due to a reduction in the weekly bearish positions by -11,283 contracts that overtook a small decline in the weekly bullish positions by -2,066 contracts.
Free Reports:
Gold speculative net positions are now at the highest level in six weeks.
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 for a second week to a net total position of -29,948 contracts through August 18th. This was a weekly change of -5,490 contracts from the total net position of -24,458 contracts on August 11th.
GLD ETF:
Over the weekly reporting time-frame, from Tuesday August 11th to Tuesday August 18th, the price of the (GLD) Gold ETF , which tracks the gold spot price, advanced from approximately $106.26 to $107.33, according to ETF price data of the SPDR Gold Trust ETF (GLD).
Last 6 Weeks of Large Trader Positions
| Date | Open Interest | Change OI | Net Commercial Positions | Weekly Com Changes | Net Large Specs Positions | Weekly Spec Changes |
| 20150714 | 462664 | 10519 | -48469 | 4120 | 47824 | -2624 |
| 20150721 | 459760 | -2904 | -21584 | 26885 | 28279 | -19545 |
| 20150728 | 438282 | -21478 | -15266 | 6318 | 24465 | -3814 |
| 20150804 | 434273 | -4009 | -14820 | 446 | 29900 | 5435 |
| 20150811 | 435489 | 1216 | -24458 | -9638 | 32442 | 2542 |
| 20150818 | 432728 | -2761 | -29948 | -5490 | 41659 | 9217 |
*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
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