Commodities Buzz: Gold Speculative Long Positions Hit One Month High

Large precious metals speculators continued to increase their net long positions in the Gold futures markets last week, 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 190836 contracts in the data reported through July 12th 2021. This was a weekly gain of 8015 net contracts and pushed up the net longs to one month high. The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net short position of -221028 contracts on the week. This was a weekly change of -6302 net contracts.

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