2.7 C
New York
Thursday, April 22, 2021

Gold Speculators Trim Bullish Bets For 3rd Straight Week

Must read

U.S. Labor Market Strengthens Again as Jobless Claims Hit New Post-Covid Low

Sign In/Free Sign Up 0 Economic Indicators5 minutes ago (Apr 22, 2021 08:38AM ET) (C) Reuters. By Geoffrey Smith Investing.com -- The improvement in...

L.A. develops homelessness strategy, but does it have political will?

2/2 (C) Reuters. Homeless encampments line the bike path, as the coronavirus disease (COVID-19) disease pandemic continues, on Venice Beach in Los Angeles 2/2 By Daniel Trotta...

Energy Report: Giving In

The Wall Street Journal reports that, "Two people familiar with the matter said the U.S. is open to lifting terror sanctions against Iran's central...

Russia says it hopes U.S. ambassador’s consultations in Washington won’t be in vain

Politics12 minutes ago (Apr 22, 2021 08:30AM ET) MOSCOW (Reuters) - Russia said on Thursday it hoped U.S. ambassador John Sullivan would use his time...

Gold Non-Commercial Speculator Positions:

Large precious metals speculators reduced their bullish net positions in the Gold futures markets this week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.

Gold COT Futures Large Trader Positions

Gold COT Futures Large Trader Positions

The non-commercial futures contracts of Gold futures, traded by large speculators and hedge funds, totaled a net position of 221,038 contracts in the data reported through Tuesday August 25th. This was a weekly decline of -2,480 net contracts from the previous week which had a total of 223,518 net contracts.

The week’s net position was the result of the gross bullish position (longs) falling by -810 contracts (to a weekly total of 301,559 contracts) while the gross bearish position (shorts) rose by 1,670 contracts for the week (to a total of 80,521 contracts).

Gold speculators cut back on their bullish bets for a third straight week and for the fourth time in the past five weeks. The speculative sentiment has been on a downtrend in the past two months as the large spec level has now dipped to the lowest level of the past eleven weeks. Despite the recent weaker sentiment, the overall net bullish position continues to remain above the +200,000 net contract level and has been above this threshold for sixty-three straight weeks, dating back to June of 2019.

Gold Commercial Positions:

The commercial traders’ position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -266,445 contracts on the week. This was a weekly uptick of 1,326 contracts from the total net of -267,771 contracts reported the previous week.

Gold COT Futures Large Trader Positions

Gold COT Futures Large Trader Positions

Gold Futures:

Over the same weekly reporting time-frame, from Tuesday to Tuesday, the Gold Futures (Front Month) closed at approximately $1911.80 which was a drop of $-87.60 from the previous close of $1999.40, according to unofficial market data.

Gold Speculators Trim Bullish Bets For 3rd Straight Week

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

- Advertisement -

Latest article

U.S. Labor Market Strengthens Again as Jobless Claims Hit New Post-Covid Low

Sign In/Free Sign Up 0 Economic Indicators5 minutes ago (Apr 22, 2021 08:38AM ET) (C) Reuters. By Geoffrey Smith Investing.com -- The improvement in...

L.A. develops homelessness strategy, but does it have political will?

2/2 (C) Reuters. Homeless encampments line the bike path, as the coronavirus disease (COVID-19) disease pandemic continues, on Venice Beach in Los Angeles 2/2 By Daniel Trotta...

Energy Report: Giving In

The Wall Street Journal reports that, "Two people familiar with the matter said the U.S. is open to lifting terror sanctions against Iran's central...

Russia says it hopes U.S. ambassador’s consultations in Washington won’t be in vain

Politics12 minutes ago (Apr 22, 2021 08:30AM ET) MOSCOW (Reuters) - Russia said on Thursday it hoped U.S. ambassador John Sullivan would use his time...

GBP/AUD: Continuation Of Expanding Wedge

GBP/AUD is currently at 1.7929 in an expanding wedge in a range. We are looking for an immediate move to the ATR target at...