Speculators cut bullish positions in Gold ahead of Fed rate decision

By FXStreet FXStreet (Mumbai) – The data released by the Commodity Futures Trading Commission (CFTC) showed speculators trimmed bullish positions in Gold in anticipation of an interest rate hike in the US.

The non-commercial futures contracts of Comex gold futures, traded by large speculators and hedge funds, witnessed a weekly change of 5,967 contracts to total a net position of +13,656 contracts in the data reported through December 15th. Weekly bullish positions fell by 6,830 contracts , while the weekly bearish positions fell by 863 contracts.

The commercials, hedgers or traders engaged in buying and selling for business purposes, cut back on their overall bearish positions to a net total position of -8,266 contracts through December 15th.
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Source:: FX Street