Weekly Large Trader COT Report: GOLD

Large Trader COT Report: Gold

Gold Cot 1

Gold speculative positions dipped last week to +264,898 contracts

GOLD Non-Commercial Positions:

Gold speculator and large futures traders cut back on their gold bullish positions last week after a streak of seven consecutive weekly gains, 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 +264,898 contracts in the data reported through May 10th. This was a weekly change of -6,750 contracts from the previous week’s total of +271,648 net contracts that was registered on May 3rd.

The decrease in the weekly net speculator positions (-6,750 net contracts) was due to a decline in the weekly bullish positions by -1,225 contracts that combined with a gain in the weekly bearish positions by 5,525 contracts.

Gold Commercial Positions:

In the commercial positions for gold on the week, 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 -284,996 contracts through May 10th. This was a weekly change of +9,905 contracts from the total net position of -294,901 contracts on May 3rd.

SPDR Gold Shares (NYSE:GLD) ETF:

Over the weekly reporting time-frame, from Tuesday May 3rd to Tuesday May 10th, the price of the Gold ETF (NYSE:GLD), which tracks the gold spot price, fell from approximately $122.96 to $120.98, according to ETF price data of the SPDR Gold Trust ETF (GLD).

COT Gold: Large Speculators vs Commercials

Weeks of Large Trader Positions

COT Report: The weekly commitment of traders report summarizes the total trader positions for open contracts in the futures trading markets. The CFTC categorizes trader positions according to commercial hedgers (traders who use futures contracts for hedging as part of the business), non-commercials (large traders who speculate to realize trading profits) and non-reportable traders (usually small traders/speculators)