Gold Non-Commercial Speculator Positions:
Large precious metal speculators raised their net positions in the Gold futures markets this 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 Gold futures, traded by large speculators and hedge funds, totaled a net position of 193,095 contracts in the data reported through Tuesday October 31st. This was a weekly increase of 1,710 contracts from the previous week which had a total of 191,385 net contracts.
Speculative positions had fallen for five out of the previous six weeks before this week’s gains. The net position remains under the +200,000 contract level for a second week.
Gold Commercial Positions:
The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -210,648 contracts on the week. This was a weekly advance of just 5 contracts from the total net of -210,653 contracts reported the previous week.
GLD (NYSE:GLD) ETF:
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the GLD ETF, which tracks the price of gold, closed at approximately $120.67 which was a fall of $-0.66 from the previous close of $121.33, according to unofficial market data.
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