Gold Speculators Pushed Their Bullish Net Positions Higher This Past Week

October 28, 2018

Gold COT Futures Large Trader Positions

Gold Non-Commercial Speculator Positions

Large precious metals speculators raised their bullish net positions in the Gold futures markets again 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 29,388 contracts in the data reported through Tuesday October 23rd. This was a weekly increase of 11,721 contracts from the previous week which had a total of 17,667 net contracts.

Speculative positions rose for a second week after a huge increase (+55,842 contracts) last week and have now gained by +67,563 contracts over that two-week span. The current gold spec standing is now in a bullish position for a second week after having been in bearish territory for the previous nine weeks.

Gold Commercial Positions

The commercial traders’ position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -46,520 contracts on the week. This was a weekly fall of -14,524 contracts from the total net of -31,996 contracts reported the previous week.

Gold COT Futures Large Trader Vs Gold Futures

Gold Futures

Over the same weekly reporting time-frame, from Tuesday to Tuesday, the Gold Futures (Front Month) closed at approximately $1236.80 which was an increase of $5.80 from the previous close of $1231.00, according to unofficial market data.


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