Speculators reduced net bullish positions in Gold for a third week

Speculators reduced net bullish positions in Gold for a third week
FXStreet (Mumbai) – As per the Commodity Futures Trading Commission (CFTC), speculators slightly cut their gold bullish positions last week after having done the same in the previous two weeks.

The non-commercial futures contracts of Comex gold futures, traded by large speculators and hedge funds, witnessed a weekly change of -2,624 contracts to total a net position of +47,824 contracts in the data reported through July 14th. The weekly bullish positions fell by -2,762 contracts and the weekly bearish positions by -138 contracts.

The commercials (hedgers or traders engaged in buying and selling for business purposes) reduced their overall bearish positions for a third week to a net total position of -48,469 contracts through July 14th.
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Source: FXStreet