Gold: traders enhance the reduction of net position

according to COT (Commitements of Traders), provided by the commercial trade in commodity futures (CFTC) – for a week that ended in the last Tuesday, large speculators (Non -Commercial) reduced a clean position to buy gold contracts by 15.3 thousand contracts to 125.8.8.8.8.8.8.8.8.8 thousand large speculative players reduce the clean position to buy the second week after 2-week extension. A pure position continued to decline from the levels that have been maximum since the beginning of July.

Hedgers (Commercial) reduced a clean position on the sale of contracts In gold by 15.6 thousand contracts to 138.1 thousand. Heders-operators reduce the clean position for sale as well as the second week in a row. Open interest has grown by 3.8 thousand contracts to 457.8 thousand. Bull -shaped index of large speculators (the ratio of the number of contracts for the purchase for the number of contracts for sale) decreased by 0.32 to 2.13 per week.

resume

data from COT reports for gold reflect the growth of bear mood. The traders in the last week strengthened the reduction of a clean position on prices. At the same time, the clean position continued decline from the levels that are maximum over the past two months. Large funds increased sales by 15% per week, purchases were also reduced. The continuation of this trend can help reduce price for noble metal.