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15 Dec 2014
Speculators raised Bullish bets in gold for 2nd Straight Week
FXStreet (Mumbai) - Large traders and futures market speculators pushed their overall bullish bets in gold higher last week for a second consecutive week and brought bullish levels to the highest standing since August, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.
The net-long position in gold futures rose 31% to 104,532 futures and options contracts in the week ended Dec. 9, according to U.S. Commodity Futures Trading Commission data. Meanwhile, net-short positions dropped 22%, the most since Aug. 12.
The overall gold position has now reached the highest level since August 19th when overall net bullish positions increased to 137,976 contracts.
Gold prices on Comex fell for a second day today ahead of two-day Federal Reserve monetary policy meet commencing tomorrow. Currently, Comex gold futures for February deliveries trade at USD 1211.40/Oz, down -0.91% on the day.
The net-long position in gold futures rose 31% to 104,532 futures and options contracts in the week ended Dec. 9, according to U.S. Commodity Futures Trading Commission data. Meanwhile, net-short positions dropped 22%, the most since Aug. 12.
The overall gold position has now reached the highest level since August 19th when overall net bullish positions increased to 137,976 contracts.
Gold prices on Comex fell for a second day today ahead of two-day Federal Reserve monetary policy meet commencing tomorrow. Currently, Comex gold futures for February deliveries trade at USD 1211.40/Oz, down -0.91% on the day.