CAPITALSTARS MCX COMMODITY GOLD NEWS UPDATE : : 09 SEPTEMBER 2019
Commodities Buzz: Gold Speculative Positions near Three Year
High
Large precious metals speculators increased their bullish
net positions in the Gold futures markets last week, according to the latest The 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
300,547 contracts in the data reported through Tuesday, September 3rd. This was
a weekly rise of 3,709 net contracts from the previous week which had a total
of 296,838 net contracts. Gold speculators continue to exhibit their positive
sentiment and the current is the highest in nearly three years. Gold
speculative bullish positions have now gained for eleven weeks out of the past
fourteen weeks. The commercial traders’ position, hedgers or traders engaged in
buying and selling for business purposes, totaled a net position of -337,741
contracts on the week. This was a weekly drop of -3,935 contracts.
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