Commodities Buzz: Gold Speculative Long Positions Drop To Three Year Low

25 Jul 2022 , 01:00 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 94955 contracts in the data reported through July 12, 2022. This was a weekly fall of 23166 net contracts and took the net longs to around three week low. The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net short position of – 137788 contracts on the week. This was a weekly change of -25526 net contracts. Powered by Commodity Insights