By CountingPips.com | Weekly Large Trader COT Report: Gold
Gold speculative positions edged up last week to +220,857 contracts
GOLD Non-Commercial Positions:
Gold speculator and large futures traders continued to increase their gold bullish positions higher last week for a sixth 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 +220,857 contracts in the data reported through April 26th. This was a weekly change of +4,020 contracts from the previous week’s total of +216,837 net contracts that was registered on April 19th.
The rise in the weekly net speculator positions took place despite a fall in the weekly bullish positions by -2,970 contracts. The weekly bearish positions declined by -6,990 contracts and outpaced the bullish positions to result in a net gain for the week of +4,020 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) just slightly trimmed their overall bearish positions to a net total position of -240,108 contracts through April 26th. This was a weekly change of +13 contracts from the total net position of -240,121 contracts on April 19th.
GLD ETF:
Over the weekly reporting time-frame, from Tuesday April 19th to Tuesday April 26th, the price of the (GLD) Gold ETF, which tracks the gold spot price, decreased from approximately $119.58 to $118.70, according to ETF price data of the SPDR Gold Trust ETF (GLD).
Last 6 Weeks of Large Trader Positions
| Date | Net Commercial Positions | Weekly Com Changes | Net Large Specs Positions | Weekly Spec Changes |
| 20160322 | -199994 | -14463 | 178831 | 9319 |
| 20160329 | -207964 | -7970 | 189806 | 10975 |
| 20160405 | -207245 | 719 | 190400 | 594 |
| 20160412 | -231787 | -24542 | 213807 | 23407 |
| 20160419 | -240121 | -8334 | 216837 | 3030 |
| 20160426 | -240108 | 13 | 220857 | 4020 |
*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
