Commodities Buzz: Gold Speculative Long Positions Hit Three Month High

28 Feb 2022 , 01:07 PM

Large precious metals speculators continued to raise 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 243148 contracts in the data reported through February 22, 2022. This was a weekly spurt of 29535 net contracts and took net longs to around three month high. The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net short position of -269722 contracts on the week. This was a weekly change of -30847 net contracts.

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