Commodities Buzz: Gold Speculative Longs Gain After Falling For Two Weeks

Large metals speculators added to their bullish net 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 163,069 contracts in the data reported through Tuesday, April 17th. This was a weekly gain of 7,697 contracts. Speculative positions in gold had dropped for the previous two weeks before this gain. The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -185,262 contracts on the week. This was a weekly drop of -9,610 contracts.