Bitcoin price today: flat at $108k as tariff jitters cap gains; Crypto week ahead
Weekly CFTC Net Speculator Gold Report
Gold positions rise to net +89,330 contracts
GOLD: Large traders and futures market speculators raised their overall bullish bets in gold last week after a slight decline the previous week and brought net positions to highest level in six weeks, 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 +89,330 contracts in the data reported through December 2nd. This was a weekly change of +13,123 contracts from the previous week’s total of +76,207 net contracts that was registered on November 25th.
Last week’s rise in the net speculator positions (+13,123 contracts) was due to a gain in gold bullish positions by +3,241 contracts which was combined with a fall in the weekly bearish positions by -9,882 contracts. The overall gold position is now at the highest level since October 28th when overall net bullish positions totaled +100,739 contracts.
Over the weekly reporting time-frame, from Tuesday November 25th to Tuesday December 2nd, the gold price traded virtually unchanged from approximately $1,197.80 to $1,199.40 per ounce, according to gold futures price data from investing.com.
*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).
3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads.
Which stock should you buy in your very next trade?
With valuations skyrocketing in 2024, many investors are uneasy putting more money into stocks. Unsure where to invest next? Get access to our proven portfolios and discover high-potential opportunities.
In 2024 alone, ProPicks AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. That's an impressive track record.
With portfolios tailored for Dow stocks, S&P stocks, Tech stocks, and Mid Cap stocks, you can explore various wealth-building strategies.