Gold: Net bullish positions rise to the highest in 4 weeks - CFTC

Dhwani Mehta FXStreet

According to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday, net bullish positions in gold rose for the second straight week, hitting the highest level in four weeks.

The non-commercial futures contracts of Comex gold futures gained 7,323 contracts over the week, totaling to a net position of 167,090 contracts in the data reported through May 30th.

Meanwhile, the commercial traders position totaled a net position of -183,219 contracts this week, registering a weekly decrease of -8,928 contracts from the total net of -174,291 contracts seen last.

Gold positions have risen by over +40,000 contracts in the last two weeks.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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