By CountingPips.com | Weekly Large Trader COT Report: Gold
Gold speculative positions bumped up last week to +26,560 contracts
GOLD Non-Commercial Positions:
Gold speculator and large futures traders raised their gold bullish positions higher last week for the second time in three weeks and to the highest level in seven 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 +26,560 contracts in the data reported through January 5th. This was a weekly change of +7,458 contracts from the previous week’s total of +19,102 net contracts that was registered on December 29th.
The gain in the weekly net speculator positions (+7,458 net contracts) was due to a rise in the weekly bullish positions by 3,303 contracts that combined with a decline in the weekly bearish positions by 4,155 contracts.
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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 -19,275 contracts through January 5th. This was a weekly change of -3,940 contracts from the total net position of -15,335 contracts on December 29th.
GLD ETF:
Over the weekly reporting time-frame, from Tuesday December 29th to Tuesday January 5th, the price of the (GLD) Gold ETF , which tracks the gold spot price, rose from approximately $102.2 to $103.18, 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 |
| 20151201 | 390940 | -6765 | -2911 | 9072 | 9750 | -6552 |
| 20151208 | 394128 | 3188 | -13997 | -11086 | 19623 | 9873 |
| 20151215 | 390944 | -3184 | -8266 | 5731 | 13656 | -5967 |
| 20151222 | 405294 | 14350 | -22251 | -13985 | 26427 | 12771 |
| 20151229 | 401880 | -3414 | -15335 | 6916 | 19102 | -7325 |
| 20160105 | 413688 | 11808 | -19275 | -3940 | 26560 | 7458 |
*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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