Commodities Buzz: Gold Speculative Long Positions Drop Further

1 Aug 2022 , 12:57 PM

Large precious metals speculators cut 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). The non-commercial futures contracts of Gold futures, traded by large speculators and hedge funds, totaled a net position of 92690 contracts in the data reported through July 26, 2022. This was a weekly fall of 2265 net contracts and kept the net longs to around three year low. The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net short position of -108422 contracts on the week. This was a weekly change of 29366 net contracts.Powered by Commodity Insights