Gold speculators raise net bullish positions for 5th straight week

By FXStreet FXStreet (Mumbai) – Gold speculator and large futures traders continued to raise their gold bullish positions last week for a fifth straight 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 Comex gold futures, traded by large speculators and hedge funds, totaled a net position of +72,685 contracts in the data reported through September 1st. This was a weekly change of +1,952 contracts from the previous week total of +70,733 net contracts that was registered on August 25th.

In the commercial positions for gold on the week, the commercials (hedgers or traders engaged in buying and selling for business purposes) added to their overall bearish positions for a fourth week to a net total position of -69,088 contracts through September 1st. This was a weekly change of -6,452 contracts from the total net position of -62,636 contracts on August 25th.
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Source:: FX Street