Is gold prepared for growth?

according to COT (Commitements of Traders), provided by the commercial trade futures trading commission (CFTC) – for a week that ended in the last Tuesday, large speculators (Non -Commercial) increased the pure position for the purchase of gold contracts by 31.6 thousand contracts to 124.3 thousand thousand thousand thousand . Large speculative players began to increase a clean position on the purchase after a 5-week reduction. A pure position began to grow from levels minimal since May 28, 2019.

Hedgers (Commercial) increased the clean position for the sale of gold contracts At 27.1 thousand contracts, up to 135.6 thousand hedgers-operators began to increase a clean position for sale also after a 5-week reduction. Open interest decreased by 27.9 thousand contracts to 459.6 thousand. Bull -shaped index of large speculators (the ratio of the number of contracts for the purchase for the number of contracts for sale) increased by 0.43 to 2.05 per week.

resume

data from COT reports for gold reflect the growth of bull moods. After a 5-week reduction, the traders markedly increased a clean position for rising prices. At the same time, a clean position I began to grow from levels, minimal over the past more than three years. Large funds reduced sales by 21% per week. The continuation of this trend can contribute to the increase in price for noble metal.