• Home »
  • »
  • MTECHTIPS:-Gold Speculative Longs At Six Week Highs

MTECHTIPS:-Gold Speculative Longs At Six Week Highs

MTECHTIPS:-Gold Speculative Longs At Six Week Highs

Gold speculators and large futures traders increased their gold bullish positions higher last week for a third consecutive 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 Comex gold futures, traded by large speculators and hedge funds, totaled a net position of +41,659 contracts in the data reported through August 18th. This was a weekly change of +9,217 contracts from the previous week’s total of +32,442 net contracts that was registered on August 11th. The rise in the weekly net speculator positions was due to a reduction in the weekly bearish positions by -11,283 contracts. Gold speculative net positions are now at the highest level in six weeks. In the commercial positions for gold on the week, the commercials (hedgers or traders engaged in buying and selling for business purposes) added to their overall bearish positions for a second week to a net total position of -29,948 contracts through August 18th. This was a weekly change of -5,490 contracts.
www.mtechtips.com
07489294418-119