November 26th, 2018 – By CountingPips.com – Receive our weekly COT Reports by Email
Gold Non-Commercial Speculator Positions:
Large precious metals speculators raised their bullish net positions in the Gold futures markets last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Monday due to the Thanksgiving day holiday.
The non-commercial futures contracts of Gold futures, traded by large speculators and hedge funds, totaled a net position of 8,896 contracts in the data reported through Tuesday November 20th. This was a weekly rise of 18,143 net contracts from the previous week which had a total of -9,247 net contracts.
The week’s net position was the result of the gross bullish position sliding by -2,910 contracts to a weekly total of 165,506 contracts but was more than offset by the gross bearish position which saw a decrease by -21,053 contracts for the week to a total of 156,610 contracts.
The speculative net position flipped back into bullish territory after falling into a bearish net position in the previous week. The gold sentiment has been trending back positively in recent weeks with gold bets having a bullish net position in five out of the past six weeks.
Free Reports:
Download Our 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.
Gold Commercial Positions:
The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -23,140 contracts on the week. This was a weekly fall of -21,317 contracts from the total net of -1,823 contracts reported the previous week.
Gold Futures:
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the Gold Futures (Front Month) closed at approximately $1221.20 which was a rise of $19.80 from the previous close of $1201.40, according to unofficial market data.
*COT Report: The COT data, released weekly to the public each Friday, is updated through the most recent Tuesday (data is 3 days old) and shows a quick view of how large speculators or non-commercials (for-profit traders) as well as the commercial traders (hedgers & traders for business purposes) were positioned in the futures 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 – Receive our weekly COT Reports by Email
- The US natural gas prices fell to a 2-month low. A drop in the technology sector on Wednesday had a negative impact on the broad market Apr 18, 2024
- Target Thursdays: Cocoa, Bitcoin and USDCHF hit targets! Apr 18, 2024
- British Pound shows signs of recovery amid favourable inflation data Apr 18, 2024
- Indices decline amid hawkish comments from the Fed. Investors are waiting for Israel’s answer Apr 17, 2024
- EURGBP: Slams into support on hot UK inflation Apr 17, 2024
- Brent crude prices dip amid concerns over global demand Apr 17, 2024
- Stock indices sell-off amid rising geopolitical tensions in the Middle East. China’s GDP grew the most in a year Apr 16, 2024
- New FXTM commodity hits all-time high! Apr 16, 2024
- NZD hits five-month low against strong US dollar Apr 16, 2024
- Escalating conflict in the Middle East is forcing investors to shift funds to safe assets Apr 15, 2024