Gold Non-Commercial Positions:
Large speculators and traders continued to reduce their net positions in the gold futures markets last week for the 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 114,834 contracts in the data reported through December 20th. This was a weekly change of -14,477 contracts from the previous week which had a total of 129,311 net contracts.
Gold Commercial Positions:
The commercial traders position, categorized by the CFTC as hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -134,022 contracts last week. This is a weekly rise of 15,864 contracts from the total net of -149,886 contracts reported the previous week.
Gold ETF:
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the GLD (NYSE:GLD) ETF, which tracks the price of gold, closed at approximately $107.79 which was a drop of $-2.66 from the previous close of $110.45, according to ETF market data from Yahoo Finance.
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