By CountingPips.com | Weekly CFTC Net Speculator Gold Report
GOLD: Gold market traders and speculators continued to cut back on their overall bullish bets last week for a fourth straight week and to a new low level since June, 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 +95,141 contracts in the data reported through September 9th. This was a weekly change of -1,738 contracts from the previous week’s total of +96,879 net contracts that was registered on September 2nd.
The overall fall in the speculator positions marked a fourth weekly decrease and pushed bullish levels down to the lowest standing since June 17th when positions totaled +78,295 contracts.
The weekly decline in the net spec positions (-1,738) last week was due to a rise in the bearish positions by 6,771 contracts that more than offset the gain in the weekly bullish positions of 5,033 contracts.
Over the same weekly reporting time-frame, from Tuesday September 2nd to Tuesday September 9th, the gold price fell from approximately $1,265.00 to $1,248.50 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 |
| 08/05/2014 | 360342 | 176386 | 54923 | 121463 | -17690 | 1285.30 |
| 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 |
*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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