Commodities Buzz: Gold Speculative Long Positions At Four Month Low

Large precious metals speculators trimmed 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 136,646 contracts in the data reported through Tuesday April 24th. This was a weekly fall of -26,423 contracts. Speculative bets for gold have now fallen for three out of the past four weeks and the overall gold position is currently at the lowest level since December 26th 2017. The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -161,800 contracts on the week. This was a weekly gain of 23,462 contracts.