By CountingPips.com | Weekly CFTC Net Speculator Gold Report
GOLD: Large futures traders and gold speculators pushed their overall bullish bets in gold higher for a fifth straight week last week as the gold price hovered around the $1,300.00 level, 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 +188,925 contracts in the data reported through January 27th. This was a weekly change of +26,470 contracts from the previous week’s total of +162,455 net contracts that was registered on January 20th.
The gain in the net speculator positions (+26,470 contracts) was due to an increase in the weekly bullish positions by +15,150 contracts combined with a strong decline in the gold bearish positions by -11,320 contracts.
Gold speculative positions have now risen eight out of the last nine weeks and are at their highest level since at least 2012.
Over the weekly reporting time-frame, from Tuesday January 27th to Tuesday January 13th, the gold price dipped ever so slightly from approximately $1,294.20 to $1,292.90 per ounce, according to gold futures price data from investing.com.
Free Reports:
Last 6 Weeks of Large Trader Non-Commercial Gold Positions
| Date | Open Interest | Long Specs | Short Specs | Net Non-Commercials | Weekly Change | Gold Price |
| 12/23/2014 | 375212 | 180980 | 70070 | 110910 | -7498 | 1178.00 |
| 12/30/2014 | 373982 | 182897 | 67060 | 115837 | 4927 | 1200.40 |
| 01/06/2015 | 394021 | 187705 | 65527 | 122178 | 6341 | 1219.40 |
| 01/13/2015 | 402108 | 192959 | 62733 | 130226 | 8048 | 1234.40 |
| 01/20/2015 | 430128 | 223257 | 60802 | 162455 | 32229 | 1294.20 |
| 01/27/2015 | 438279 | 238407 | 49482 | 188925 | 26470 | 1292.90 |
*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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