By CountingPips.com | Weekly CFTC Net Speculator Gold Report
GOLD: Gold market traders and large speculators decreased their overall bullish bets last week for a fifth consecutive week and to the lowest level in almost four months, 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 +72,187 contracts in the data reported through September 16th. This was a weekly change of -22,954 contracts from the previous week’s total of +95,141 net contracts that was registered on September 9th.
The overall decline in the speculator positions was a fifth weekly shortfall and dropped gold’s bullish sentiment levels down to the lowest standing since June 10th when positions totaled +61,127 contracts.
The weekly decline in the net spec positions (-22,954) last week was due to a gain in the bearish positions by 16,148 contracts while the weekly bullish positions fell by 6,806 contracts.
Over the same weekly reporting time-frame, from Tuesday September 9th to Tuesday September 16th, the gold price fell from approximately $1,248.50 to $1,236.70 per ounce, according to gold futures price data from investing.com.
Free Reports:
Last 6 Weeks of Large Trader Non-Commercial Positions
| Date | Open Interest | Long Specs | Short Specs | Net Non-Commercials | Weekly Change | Gold Price |
| 08/12/2014 | 368114 | 191325 | 43644 | 147681 | 26218 | 1310.60 |
| 08/19/2014 | 366401 | 183846 | 45870 | 137976 | -9705 | 1296.70 |
| 08/26/2014 | 363608 | 172022 | 58853 | 113169 | -24807 | 1285.20 |
| 09/02/2014 | 371515 | 172522 | 75643 | 96879 | -16290 | 1265.00 |
| 09/09/2014 | 384341 | 177555 | 82414 | 95141 | -1738 | 1248.50 |
| 09/16/2014 | 386080 | 170749 | 98562 | 72187 | -22954 | 1236.70 |
*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). Find CFTC criteria here: (http://www.cftc.gov/MarketReports/CommitmentsofTraders/ExplanatoryNotes/index.htm).
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