By CountingPips.com | Weekly Large Trader COT Report: Gold
Gold speculative positions advanced last week to +178,831 contracts
GOLD Non-Commercial Positions:
Gold speculator and large futures traders increased their gold bullish positions higher last week following a slight decline in positions the previous week, 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 +178,831 contracts in the data reported through March 22nd. This was a weekly change of +9,319 contracts from the previous week’s total of +169,512 net contracts that was registered on March 15th.
The increase in the weekly net speculator positions (+9,319 net contracts) was due to a rise in the weekly bullish positions by 10,987 contracts that overtook the gain in the weekly bearish positions by 1,668 contracts.
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Speculator positions have now advanced higher for eight out of the last nine weeks.
Gold Commercial Positions:
In the commercial positions for gold on the week, the commercials (hedgers or traders engaged in buying and selling for business purposes) increased their overall bearish positions to a net total position of -199,994 contracts through March 22nd. This was a weekly change of -14,463 contracts from the total net position of -185,531 contracts on March 15th.
GLD ETF:
Over the weekly reporting time-frame, from Tuesday March 15th to Tuesday March 22nd, the price of the (GLD) Gold ETF, which tracks the gold spot price, rose from approximately $117.96 to $119.31, according to ETF price data of the SPDR Gold Trust ETF (GLD).
Last 6 Weeks of Large Trader Positions
| Date | Net Commercial Positions | Weekly Com Changes | Net Large Specs Positions | Weekly Spec Changes |
| 20160216 | -131984 | -27061 | 117360 | 18932 |
| 20160223 | -163149 | -31165 | 144978 | 27618 |
| 20160301 | -171431 | -8282 | 152413 | 7435 |
| 20160308 | -195372 | -23941 | 174810 | 22397 |
| 20160315 | -185531 | 9841 | 169512 | -5298 |
| 20160322 | -199994 | -14463 | 178831 | 9319 |
*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
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