By CountingPips.com | Weekly Large Trader COT Report: Gold
Gold speculative positions fall to +59,293 contracts
GOLD Non-Commercial Positions:
Gold speculator and large futures traders decreased their gold bullish positions last week after pushing bets higher for the previous five 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 Comex gold futures, traded by large speculators and hedge funds, totaled a net position of +59,293 contracts in the data reported through September 8th. This was a weekly change of -13,392 contracts from the previous week’s total of +72,685 net contracts that was registered on September 1st.
The decline in the weekly net speculator positions (-13,392 net contracts) was due to a large gain in the weekly bearish positions by 14,254 contracts that overtook a small rise in the weekly bullish positions by 862 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) cut back on their overall bearish positions to a net total position of -55,979 contracts through September 8th. This was a weekly change of +13,109 contracts from the total net position of -69,088 contracts on September 1st.
GLD ETF:
Over the weekly reporting time-frame, from Tuesday September 1st to Tuesday September 8th, the price of the (GLD) Gold ETF , which tracks the gold spot price, fell from approximately $109.20 to $107.52, according to ETF price data of the 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 |
| 20150804 | 434273 | -4009 | -14820 | 446 | 29900 | 5435 |
| 20150811 | 435489 | 1216 | -24458 | -9638 | 32442 | 2542 |
| 20150818 | 432728 | -2761 | -29948 | -5490 | 41659 | 9217 |
| 20150825 | 432154 | -574 | -62636 | -32688 | 70733 | 29074 |
| 20150901 | 410274 | -21880 | -69088 | -6452 | 72685 | 1952 |
| 20150908 | 421732 | 11458 | -55979 | 13109 | 59293 | -13392 |
*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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