By CountingPips.com | Weekly Large Trader COT Report: Gold
CFTC COT data released on Monday due to a holiday schedule
GOLD Non-Commercial Positions:
Gold speculator and large futures traders sharply cut back on their gold bullish positions last week for a second straight week and to the lowest level since September, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Monday due to a holiday schedule.
The non-commercial futures contracts of Comex gold futures, traded by large speculators and hedge funds, totaled a net position of +68,389 contracts in the data reported through November 10th. This was a weekly change of -47,953 contracts from the previous week’s total of +116,342 net contracts that was registered on November 3rd.
The drop in the weekly net speculator positions (-47,953 net contracts weekly change) was due to a decline in the weekly bullish positions by -20,223 contracts that combined with a gain in the weekly bearish positions by 27,730 contracts.
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The gold standing of speculative positions is now at the lowest level since September 22nd when spec positions equaled +61,125 contracts.
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 second week to a net total position of -71,894 contracts through November 10th. This was a weekly change of +53,094 contracts from the total net position of -124,988 contracts on November 3rd.
GLD ETF:
Over the weekly reporting time-frame, from Tuesday November 3rd to Tuesday November 10th, the price of the (GLD) Gold ETF, which tracks the gold spot price, decreased from approximately $106.98 to $104.18, 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 |
| 20151006 | 430228 | 14528 | -88469 | -15326 | 86819 | 10174 |
| 20151013 | 435928 | 5700 | -118494 | -30025 | 117159 | 30340 |
| 20151020 | 467792 | 31864 | -163300 | -44806 | 151301 | 34142 |
| 20151027 | 466780 | -1012 | -165848 | -2548 | 157434 | 6133 |
| 20151103 | 443900 | -22880 | -124988 | 40860 | 116342 | -41092 |
| 20151110 | 436426 | -7474 | -71894 | 53094 | 68389 | -47953 |
*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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