By CountingPips.com – Weekly CFTC Net Speculator Report
Gold Comex Futures Contracts: Large traders and speculators added to their bullish bets in the gold futures market last week to the highest level since April 2013, according to the latest data from the Commodity Futures Trading Commission (CFTC) released on Friday.
The gold non-commercial Comex futures contracts totaled a net position of 109,464 contracts in the data reported for February 25th. This was a change of +24,833 contracts from the previous week’s total of 84,631 net contracts that was registered on February 18th.
Net non-commercials are at their highest level since April 16th 2013 when net contracts equaled 128,882 as bullish net positions have increased for three straight weeks.
Gold prices rose through February 25th to $1,342.70 from a price of $1,324.40 on Tuesday February 18th, according to the Comex Gold Price.
Last 6 Weeks of Large Traders: Non-Commercial Net Positions
| Date | Open Interest | Long Specs | Short Specs | Net Specs | Weekly Change | Gold Spot Price |
| 01/21/2014 | 410959 | 146018 | 99435 | 46583 | 2570 | 1242 |
| 01/28/2014 | 382739 | 150158 | 83817 | 66341 | 19758 | 1250.5 |
| 02/04/2014 | 368279 | 147754 | 82815 | 64939 | -1402 | 1251.2 |
| 02/11/2014 | 376973 | 156786 | 85585 | 71201 | 6262 | 1289.8 |
| 02/18/2014 | 390535 | 164478 | 79847 | 84631 | 13430 | 1324.4 |
| 02/25/2014 | 387503 | 169870 | 60406 | 109464 | 24833 | 1342.7 |
*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 Apps & Analysis