October 27th 2018 – By CountingPips.com – Receive our weekly COT Reports by Email
Gold Non-Commercial Speculator Positions:
Large precious metals speculators raised their bullish net positions in the Gold futures markets again this 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 Gold futures, traded by large speculators and hedge funds, totaled a net position of 29,388 contracts in the data reported through Tuesday October 23rd. This was a weekly increase of 11,721 contracts from the previous week which had a total of 17,667 net contracts.
Speculative positions rose for a second week after a huge increase (+55,842 contracts) last week and have now gained by +67,563 contracts over that two-week span. The current gold spec standing is now in a bullish position for a second week after having been in bearish territory for the previous nine weeks.
Gold Commercial Positions:
Free Reports:
The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -46,520 contracts on the week. This was a weekly fall of -14,524 contracts from the total net of -31,996 contracts reported the previous week.
Gold Futures:
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the Gold Futures (Front Month) closed at approximately $1236.80 which was an increase of $5.80 from the previous close of $1231.00, 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 – Receive our weekly COT Reports by Email