By CountingPips.com
Weekly CFTC Net Speculator Gold Report
GOLD: Futures market speculators slightly raised their overall bullish bets in the gold futures market last week after two straight weeks of decline, 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 +61,127 contracts in the data reported through June 10th. This was a weekly change of +1,976 contracts from the previous week’s total of +59,151 net contracts that was registered on June 3rd.
The increase in the bullish speculator positions last week brings the overall bullish net position level off of the June 3rd level which was the lowest standing since January 21st when positions equaled +46,583 contracts.
Over the weekly reporting time-frame, from Tuesday June 3rd to Tuesday June 10th, the gold price rebounded from $1,244.50 to $1,260.10 per ounce, according to gold futures price data from investing.com.
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Last 6 Weeks of Large Trader Non-Commercial Positions
| Date | Open Interest | Long Specs | Short Specs | Net Non-Commercials | Weekly Change | Gold Price |
| 05/06/2014 | 404700 | 160982 | 63026 | 97956 | 12729 | 1307.60 |
| 05/13/2014 | 397029 | 157176 | 65542 | 91634 | -6322 | 1295.20 |
| 05/20/2014 | 399371 | 157398 | 60907 | 96491 | 4857 | 1294.60 |
| 05/27/2014 | 397695 | 155615 | 82224 | 73391 | -23100 | 1265.70 |
| 06/03/2014 | 382141 | 157332 | 98181 | 59151 | -14240 | 1244.50 |
| 06/10/2014 | 378689 | 159567 | 98440 | 61127 | 1976 | 1260.10 |
*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).
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