Gold Speculators Raised Bullish Positions Last Week After 2 Down Weeks
Zachary Storella | Sep 27, 2015 01:20AM ET
Weekly Large Trader COT Report: Gold
Gold speculative positions pushed up last week to +61,125 contracts
GOLD Non-Commercial Positions:
Gold speculator and large futures traders increased their gold bullish positions higher last week following declines of the bullish positions in the previous two 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 +61,125 contracts in the data reported through September 22nd. This was a weekly change of +21,578 contracts from the previous week’s total of +39,547 net contracts that was registered on September 15th.
The gain in the weekly net speculator positions (+21,578 net contracts) was due to a rise in the weekly bullish positions by 7,855 contracts combined with a drop in the weekly bearish positions by -13,723 contracts.
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) added to their overall bearish positions to a net total position of -57,228 contracts through September 22nd. This was a weekly change of -24,249 contracts from the total net position of -32,979 contracts on September 15th.
SPDR Gold Shares (NYSE:GLD) ETF:
Over the weekly reporting time-frame, from Tuesday September 15th to Tuesday September 22nd, the price of the (GLD) Gold ETF, which tracks the gold spot price, rose from approximately $105.90 to $107.79, according to ETF price data of the SPDR Gold Trust ETF (GLD).
Last 6 Weeks of Large Trader Positions
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).
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