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Gold bullish bets at lowest since August

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 23, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Mumbai) - Gold speculators reduced their bullish positions last week for the third consecutive week, taking the net bullish positions to their lowest since August.

    The non-commercial futures contracts of Comex gold futures, traded by large speculators and hedge funds, witnessed a weekly change of of -33,990 contracts, to total a net position of +34,399 contracts in the data reported through November 17th. The weekly bullish positions fell by 1,166 contracts, while the weekly bearish positions rose by 32,824 contracts. The net bullish positions now stand at the lowest level since August 11th.

    The commercials, hedgers or traders engaged in buying and selling for business purposes, cut back on their overall bearish positions for a third week to a net total position of -28,473 contracts.
    For more information, read our latest forex news.
     

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