April 20th – By CountingPips.com – Receive our weekly COT Reports by Email
Gold Non-Commercial Speculator Positions:
Large precious metals speculators strongly decreased 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.
The non-commercial futures contracts of Gold futures, traded by large speculators and hedge funds, totaled a net position of 56,273 contracts in the data reported through Tuesday April 16th. This was a weekly decline of -49,091 net contracts from the previous week which had a total of 105,364 net contracts.
The week’s net position was the result of the gross bullish position (longs) falling by -16,294 contracts to a weekly total of 183,213 contracts which combined with the gross bearish position (shorts) rising by 32,797 contracts for the week to a total of 126,940 contracts.
Get our Weekly Commitment of Traders Report: - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
Get Our Free Metatrader 4 Indicators - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
The net speculative position had risen for three out of the past four weeks before this week’s sharp decline. The current standing is now at the lowest level of the past nineteen weeks as the net position fell by almost half this week (-46.6 percent). The gold position has remained in a positive or bullish position for twenty-two straight weeks since a dip into bearish territory in November.
Gold Commercial Positions:
The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -78,430 contracts on the week. This was a weekly boost of 54,379 contracts from the total net of -132,809 contracts reported the previous week.
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the Gold Futures (Front Month) closed at approximately $1272.60 which was a loss of $-30.90 from the previous close of $1303.50, 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