Commodities Buzz: Gold Speculative Long Positions Hit Three Month High

Commodities Buzz: Gold Speculative Long Positions Hit Three Month High

Oct 26, 2020 02:10 IST capital market

Large precious metals speculators increased their net long 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 Friday. The non-commercial futures contracts of Gold futures, traded by large speculators and hedge funds, totaled a net position of 249604 contracts in the data reported through October 19th 2020. This was a weekly rise of 8933 net contracts. The net long positions hit near three month high. Meanwhile, the commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net short position of -294124 contracts on the week. This was a weekly change of -9469 net contracts.

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