By CountingPips.com | Weekly Large Trader COT Report: Gold
Gold speculative positions dropped last week to +24,465 contracts
GOLD Non-Commercial Positions:
Gold speculator and large futures traders decreased their gold bullish positions last week for a fifth consecutive week as speculator bullish bets remain at the lowest level since July 2013, 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 +24,465 contracts in the data reported through July 28th. This was a weekly change of -3,814 contracts from the previous week’s total of +28,279 net contracts that was registered on July 21st.
The fall in the weekly net speculator positions (-3,814 net contracts) was due to a slide in the weekly bullish positions by -4,743 contracts that overtook the small decline in the weekly bearish positions by -929 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) reduced their overall bearish positions for a fifth week to a net total position of -15,266 contracts through July 28th. This was a weekly change of +6,318 contracts from the total net position of -21,584 contracts on July 21st.
GLD ETF:
Over the weekly reporting time-frame, from Tuesday July 21st to Tuesday July 28th, the price of the Gold ETF (GLD), which tracks the gold spot price, fell from approximately $105.37 to $105.02, according to ETF price data of SPDR Gold Trust ETF (GLD).
Last 6 Weeks of Large Trader Positions
| Date | Open Interest | Change OI | Net Commercial Positions | Weekly Com Changes | Net Large Specs Positions | Weekly Spec Changes |
| 20150623 | 430978 | 15260 | -100888 | -24251 | 95114 | 19391 |
| 20150630 | 442301 | 11323 | -74769 | 26119 | 67155 | -27959 |
| 20150707 | 452145 | 9844 | -52589 | 22180 | 50448 | -16707 |
| 20150714 | 462664 | 10519 | -48469 | 4120 | 47824 | -2624 |
| 20150721 | 459760 | -2904 | -21584 | 26885 | 28279 | -19545 |
| 20150728 | 438282 | -21478 | -15266 | 6318 | 24465 | -3814 |
*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
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