By CountingPips.com | Weekly Large Trader COT Report: Gold
Gold speculative positions rose up last week to +315,963 contracts
GOLD Non-Commercial Positions:
Gold speculator and large futures traders continued to boost their gold bullish positions higher last week for a fifth consecutive week last 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 +315,963 contracts in the data reported through July 5th. This was a weekly change of +14,043 contracts from the previous week’s total of +301,920 net contracts that was registered on June 28th.
The gain in the weekly net speculator positions (+14,043 net contracts) was due to a rise in the weekly bullish positions by 16,462 contracts that overtook the gain in the weekly bearish positions by 2,419 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) increased their overall bearish positions for a fifth week to a net total position of -340,207 contracts through July 5th. This was a weekly change of -13,886 contracts from the total net position of -326,321 contracts on June 28th.
GLD ETF:
Over the weekly reporting time-frame, from Tuesday June 28th to Tuesday July 5th, the price of the (GLD) Gold ETF, which tracks the gold spot price, advanced from approximately $125.32 to $129.47, 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 |
| 20160531 | -214038 | 11175 | 197135 | -9497 |
| 20160607 | -243692 | -29654 | 228619 | 31484 |
| 20160614 | -298077 | -54385 | 279862 | 51243 |
| 20160621 | -312137 | -14060 | 292729 | 12867 |
| 20160628 | -326321 | -14184 | 301920 | 9191 |
| 20160705 | -340207 | -13886 | 315963 | 14043 |
*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
