By CountingPips.com | Weekly Large Trader COT Report: Gold
Gold speculative positions moved up last week to +216,837 contracts
GOLD Non-Commercial Positions:
Gold speculator and large futures traders raised their gold bullish positions last week and pushed positions higher for a fifth straight 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 +216,837 contracts in the data reported through April 19th. This was a weekly change of +3,030 contracts from the previous week’s total of +213,807 net contracts that was registered on April 12th.
The rise in the weekly net speculator positions (+3,030 net contracts) was due to a gain in the weekly bullish positions by 4,802 contracts that overtook a smaller increase in the weekly bearish positions by 1,772 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) raised their overall bearish positions for a second week to a net total position of -240,121 contracts through April 19th. This was a weekly change of -8,334 contracts from the total net position of -231,787 contracts on April 12th.
GLD ETF:
Over the weekly reporting time-frame, from Tuesday April 12th to Tuesday April 19th, the price of the (GLD) Gold ETF, which tracks the gold spot price, dipped slightly from approximately $120.05 to $119.58, according to ETF price data of the SPDR Gold Trust ETF (GLD).
Last 6 Weeks of Large Trader Positions
| Date | Net Commercial Positions | Weekly Com Changes | Net Large Specs Positions | Weekly Spec Changes |
| 20160315 | -185531 | 9841 | 169512 | -5298 |
| 20160322 | -199994 | -14463 | 178831 | 9319 |
| 20160329 | -207964 | -7970 | 189806 | 10975 |
| 20160405 | -207245 | 719 | 190400 | 594 |
| 20160412 | -231787 | -24542 | 213807 | 23407 |
| 20160419 | -240121 | -8334 | 216837 | 3030 |
*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
