By CountingPips.com | Weekly Large Trader COT Report: Gold
Gold speculative positions remain on downward slide
GOLD Non-Commercial Positions:
Gold speculator and large futures traders continued to decrease their gold bullish positions last week for a fifth consecutive week, 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 +9,750 contracts in the data reported through December 1st. This was a weekly change of -6,552 contracts from the previous week’s total of +16,302 net contracts that was registered on November 24th.
The fall in the weekly net speculator positions (-6,552 net contracts) was due to a small decline in the weekly bullish positions by -648 contracts that combined with a gain in the weekly bearish positions by 5,904 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 fifth week to a net total position of -2,911 contracts through December 1st. This was a weekly change of +9,072 contracts from the total net position of -11,983 contracts on November 24th.
GLD ETF:
Over the weekly reporting time-frame, from Tuesday November 24th to Tuesday December 1st, the price of the (GLD) Gold ETF , which tracks the gold spot price, slid from approximately $102.94 to $102.28, 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 |
| 20151027 | 466780 | -1012 | -165848 | -2548 | 157434 | 6133 |
| 20151103 | 443900 | -22880 | -124988 | 40860 | 116342 | -41092 |
| 20151110 | 436426 | -7474 | -71894 | 53094 | 68389 | -47953 |
| 20151117 | 435376 | -1050 | -28473 | 43421 | 34399 | -33990 |
| 20151124 | 397705 | -37671 | -11983 | 16490 | 16302 | -18097 |
| 20151201 | 390940 | -6765 | -2911 | 9072 | 9750 | -6552 |
*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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