By CountingPips.com | Weekly Large Trader COT Report: Gold
GOLD Non-Commercial Positions: CFTC COT data
Gold speculator and large futures traders continued to push their gold bullish positions higher last week for a fourth 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 +301,920 contracts in the data reported through June 28th. This was a weekly change of +9,191 contracts from the previous week’s total of +292,729 net contracts that was registered on June 21st.
The rise in the weekly net speculator positions was due to a gain in the standing bullish positions to a total of 373,128 contracts from a total of 358,825 contracts the previous week while the total short positions also showed a (smaller) rise to 71,208 contracts from a total of 66,096 contracts the previous week.
Gold Commercial Positions:
Free Reports:
In the commercial positions for gold on the week, the commercials (hedgers or traders engaged in buying and selling for business purposes) increased their overall bearish positions to a net total position of -326,321 contracts through June 28th. This was a weekly change of -14,184 contracts from the total net position of -312,137 contracts on June 21st.
GLD ETF:
Over the weekly reporting time-frame, from Tuesday June 21st to Tuesday June 28th, the price of the (GLD) Gold ETF, which tracks the gold spot price, rose from approximately $120.84 to $126.32, 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 |
| 20160524 | -225213 | 65030 | 206632 | -59656 |
| 20160531 | -214038 | 11175 | 197135 | -9497 |
| 20160607 | -243692 | -29654 | 228619 | 31484 |
| 20160614 | -298077 | -54385 | 279862 | 51243 |
| 20160621 | -312137 | -14060 | 292729 | 12867 |
| 20160628 | -326321 | -14184 | 301920 | 9191 |
*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
