Commodities Buzz: Gold Speculative Longs Soar To Six Month High

Large precious metals speculators sharply added to their bullish bets, taking them to the highest level in the previous six months in the Gold futures markets in last week of December 2018, 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 110,985 contracts in the data reported through Tuesday December 24th. This was a weekly surge of 35,025 net contracts. The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -128,219 contracts on the week. This was a weekly fall of -35,544 contracts.