By CountingPips.com | Weekly CFTC Net Speculator Gold Report
Speculator Positions saw largest weekly gain since July
GOLD: Large traders and futures market speculators decreased their overall gold bullish bets last week after positions had risen for four 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 +100,739 contracts in the data reported through October 28th. This was a weekly change of -7,245 contracts from the previous week’s total of +107,984 net contracts that was registered on October 21st.
The weekly fall in the net spec positions (by -7,245) last week was due to a decline in the bullish positions by 11,244 contracts which overtook a smaller decrease in the weekly bearish positions by 3,999 contracts.
Over the weekly reporting time-frame, from Tuesday October 21st to Tuesday October 28th, the gold price fell from approximately $1,251.70 to $1,229.40 per ounce, according to gold futures price data from investing.com.
Last 6 Weeks of Large Trader Non-Commercial Gold Positions
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| Date | Open Interest | Long Specs | Short Specs | Net Non-Commercials | Weekly Change | Gold Price $ |
| 09/23/2014 | 385788 | 170382 | 106498 | 63884 | -8303 | 1222.00 |
| 09/30/2014 | 379874 | 171075 | 106205 | 64870 | 986 | 1211.60 |
| 10/07/2014 | 380087 | 174075 | 107628 | 66447 | 1577 | 1212.40 |
| 10/14/2014 | 397855 | 193580 | 108165 | 85415 | 18968 | 1234.30 |
| 10/21/2014 | 411057 | 207129 | 99145 | 107984 | 22569 | 1251.70 |
| 10/28/2014 | 414410 | 195885 | 95146 | 100739 | -7245 | 1229.40 |
*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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