By CountingPips.com – Receive our weekly COT Reports by Email
Gold Non-Commercial Speculator Positions:
Large speculators lowered their bullish net positions in the Gold futures markets this week for the first time in nine 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 Gold futures, traded by large speculators and hedge funds, totaled a net position of 236,089 contracts in the data reported through Tuesday September 19th. This was a weekly lowering of -18,671 contracts from the previous week which had a total of 254,760 net contracts.
Gold bets had gained by +194,622 contracts in the previous eight weeks before this week’s turnaround. The gold speculative level, despite the pullback this week, remains above the +200,000 contract level for a fifth consecutive week.
Gold Commercial Positions:
Free Reports:
The commercial traders position, categorized by the CFTC as hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -253,041 contracts on the week. This was a weekly gain of 19,057 contracts from the total net of -272,098 contracts reported the previous week.
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the GLD ETF, which tracks the price of gold, closed at approximately $124.62 which was a loss of $-1.94 from the previous close of $126.56, according to unofficial market data.
*COT Report: The COT data, released weekly to the public each Friday, is updated through the most recent Tuesday (data is 3 days old) and shows a quick view of how large speculators or non-commercials (for-profit traders) as well as the commercial traders (hedgers & traders for business purposes) were positioned in the futures 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 – Weekly COT Report
