Gold Speculators Reduce Net Bullish Positions
Zachary Storella | May 31, 2015 01:27AM ET
Weekly CFTC Net Speculator Gold Report
GOLD Non-Commercial Positions:
Gold speculator and large futures traders reduced their gold bullish positions last week after pushing bullish bets higher the previous two straight 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 +104,694 contracts in the data reported through May 26th. This was a weekly change of -17,927 contracts from the previous week’s total of +122,621 net contracts that were registered on May 19th.
The lower results in the weekly net speculator positions (-17,927 net contracts) was due to a decline in the weekly bullish positions by -10,239 contracts combined with an advance in the weekly bearish positions by +7,688 contracts.
Over the weekly reporting time-frame, from Tuesday May 19th to Tuesday May 26th, the gold price dropped from approximately $1,206.70 to $1,187.80 per ounce, according to gold futures price data from investing.com.
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) reduced their overall bearish positions to a net total position of -109,720 contracts through May 26th. This was a weekly change of +22,614 contracts from the total net of -132,334 contracts on May 19th.
Get The News You Want
*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).
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.