By CountingPips.com | Weekly Large Trader COT Report: Gold
Gold speculative positions dropped to lowest level in five weeks
GOLD Non-Commercial Positions:
Gold speculator and large futures traders sharply cut their gold bullish positions for a second straight week last week to the lowest level in 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 +39,547 contracts in the data reported through September 15th. This was a weekly change of -19,746 contracts from the previous week’s total of +59,293 net contracts that was registered on September 8th.
The drop of -19,746 net contracts in the weekly net speculator positions was due to a fall in the weekly bullish positions by -9,390 contracts that combined with a gain in the weekly bearish positions by 10,356 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) decreased their overall bearish positions for a second week to a net total position of -32,979 contracts through September 15th. This was a weekly change of +23,000 contracts from the total net position of -55,979 contracts on September 8th.
GLD ETF:
Over the weekly reporting time-frame, from Tuesday September 8th to Tuesday September 15th, the price of the (GLD) Gold ETF which tracks the gold spot price, declined from approximately $107.52 to $105.90, 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 |
| 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 |
| 20150915 | 413333 | -8399 | -32979 | 23000 | 39547 | -19746 |
*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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