By CountingPips.com | Weekly CFTC Net Speculator Gold Report
Gold positions fall for sixth week to lowest level since November
GOLD: Gold speculators and large futures traders continued to decrease their gold bullish bets last week for a sixth consecutive week and brought the overall bullish level to its lowest point since November, 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 +81,892 contracts in the data reported through March 10th. This was a weekly change of -33,928 contracts from the previous week’s total of +115,820 net contracts that was registered on March 3rd.
The weekly decrease in the net speculator positions (-33,928 contracts) was due to a decline in the weekly bullish positions by -8,740 contracts combined with a gain in the weekly bearish positions by 25,188 contracts.
The drop in the net speculator positions brings the overall gold speculator level to its lowest standing since November 25th when net positions totaled +76,207 contracts.
Over the weekly reporting time-frame, from Tuesday March 3rd to Tuesday March 10th, the gold price fell from approximately $1,204.40 to $1,160.10 per ounce, according to gold futures price data from investing.com.
Free Reports:
Get Our Free Metatrader 4 Indicators - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
Last 6 Weeks of Large Trader Non-Commercial Gold Positions
| Date | Open Interest | Long Specs | Short Specs | Net Non-Commercials | Weekly Change | Gold Price |
| 02/03/2015 | 419524 | 229006 | 43991 | 185015 | -3910 | 1260.30 |
| 02/10/2015 | 393232 | 199036 | 43762 | 155274 | -29741 | 1232.20 |
| 02/17/2015 | 389530 | 188121 | 56387 | 131734 | -23540 | 1208.60 |
| 02/24/2015 | 399307 | 184416 | 58245 | 126171 | -5563 | 1204.70 |
| 03/03/2015 | 405124 | 180561 | 64741 | 115820 | -10351 | 1204.40 |
| 03/10/2015 | 410918 | 171821 | 89929 | 81892 | -33928 | 1160.10 |
*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).
Article by CountingPips.com – Forex Trading Apps
