Commodities Buzz: Gold Speculative Longs See Modest Increase

Large precious 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 120,240 contracts in the data reported through Tuesday June 12th. This was a weekly rise of 8,824 contracts. The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -140,587 contracts on the week. This was a weekly fall of -6,240 contracts.