By CountingPips.com | Weekly CFTC Net Speculator Gold Report
Gold positions sees small gain to rise for a third week
GOLD: Large futures traders and gold speculators added to their overall bullish bets in gold for a third straight week last week and brought bullish levels to a new highest standing since August, 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 +118,408 contracts in the data reported through December 16th. This was a weekly change of +3,546 contracts from the previous week’s total of +114,862 net contracts that was registered on December 9th.
Last week’s rise in the net speculator positions (+3,546 contracts) was due to a decrease in gold bearish positions by -8,260 contracts which overtook a smaller decrease in the weekly bullish positions by -4,714 contracts.
The overall gold position is now at a new highest level since August 19th when overall net bullish positions totaled +137,976 contracts.
Over the weekly reporting time-frame, from Tuesday December 9th to Tuesday December 16th, the gold price saw a decline from approximately $1,232.00 to $1,194.30 per ounce, according to gold futures price data from investing.com.
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Last 6 Weeks of Large Trader Non-Commercial Gold Positions
| Date | Open Interest | Long Specs | Short Specs | Net Non-Commercials | Weekly Change | Gold Price |
| 11/11/2014 | 443422 | 177268 | 121225 | 56043 | -7182 | 1163 |
| 11/18/2014 | 459657 | 187955 | 106533 | 81422 | 25379 | 1197.1 |
| 11/25/2014 | 388145 | 167394 | 91187 | 76207 | -5215 | 1197.8 |
| 12/02/2014 | 368121 | 170635 | 81305 | 89330 | 13123 | 1199.4 |
| 12/09/2014 | 375323 | 186861 | 71999 | 114862 | 25532 | 1232 |
| 12/16/2014 | 371743 | 182147 | 63739 | 118408 | 3546 | 1194.3 |
*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 – Forex Trading Apps
