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Gold Speculators bullish positions drop for a 5th week, lowest level since December
By CountingPips.com | Weekly CFTC Net Speculator Gold Report
Gold positions fall for fifth week to lowest level of 2015
GOLD: Gold speculators and large futures traders trimmed their gold bullish bets last week for a fifth straight week as overall bullish positions fell to the lowest level since December, 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 +115,820 contracts in the data reported through March 3rd. This was a weekly change of -10,351 contracts from the previous week’s total of +126,171 net contracts that was registered on February 24th.
The weekly decline in the net speculator positions (-10,351 contracts) was due to a fall in the weekly bullish positions by -3,855 contracts combined with a rise in the weekly bearish positions by 6,496 contracts.
The decrease in the net speculator positions brings the overall gold speculator level to its lowest standing since December 30th when net positions totaled +115,837 contracts.
Over the weekly reporting time-frame, from Tuesday February 24th to Tuesday March 3rd, the gold price was virtually unchanged from approximately $1,204.70 to $1,204.40 per ounce, according to gold futures price data from investing.com.
Last 6 Weeks of Large Trader Non-Commercial Gold Positions
| Date | Open Interest | Long Specs | Short Specs | Net Non-Commercials | Weekly Change | Gold Price |
| 01/27/2015 | 438279 | 238407 | 49482 | 188925 | 26470 | 1292.90 |
| 02/03/2015 | 419524 | 229006 | 43991 | 185015 | -3910 | 1260.30 |
| 02/10/2015 | 393232 | 199036 | 43762 | 155274 | -29741 | 1232.20 |
| 02/17/2015 | 389530 | 188121 | 56387 | 131734 | -23540 | 1208.60 |
| 02/24/2015 | 399307 | 184416 | 58245 | 126171 | -5563 | 1204.70 |
| 03/03/2015 | 405124 | 180561 | 64741 | 115820 | -10351 | 1204.40 |
*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).
Article by CountingPips.com – Forex Trading Apps
Source: http://countingpips.com/2015/03/gold-speculators-bullish-positions-drop-for-a-5th-week-lowest-level-since-december/
