Gold Speculators added slightly to bullish positions after 4 weeks of decline

By CountingPips.com

Weekly CFTC Net Speculator Report

Gold

GOLD: Large futures market traders and speculators slightly added to their overall bullish bets in gold futures last week after decreasing positions for four straight weeks, 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 +81,833 contracts in the data reported through April 22nd. This was a change of +2,541 contracts from the previous week’s total of +79,292 net contracts on April 15th.

Over the weekly reporting time-frame, from Tuesday April 15th to Tuesday April 22nd, the gold price declined from approximately $1,302.90 to $1,284.90 per ounce, according to gold futures price data from investing.com.

 

Last 6 Weeks of Large Trader Non-Commercial Positions

Date Open Interest Long Specs Short Specs Net Non-Commercials Weekly Change Gold Price
03/18/2014 420626 183324 46510 136814 17924 1359.00
03/25/2014 398264 169083 51766 117317 -19497 1311.00
04/01/2014 363451 158152 58007 100145 -17172 1279.60
04/08/2014 365400 149693 61094 88599 -11546 1310.10
04/15/2014 369577 147432 68140 79292 -9307 1302.9
04/22/2014 372593 146880 65047 81833 2541 1284.9

*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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