Gold – Speculators trimmed bullish bets for 4th out of last 5 weeks

The latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) released on Friday showed speculators trimmed bullish bets in gold for fourth time of the last five weeks.

The non-commercial futures contracts of Comex gold futures, traded by large speculators and hedge funds, witnessed a weekly change of -7,736 contracts to total a net position of +286,447 contracts in the data reported through August 9th.

The commercials, hedgers or traders engaged in buying and selling for business purposes, trimmed their bearish positions to a net total position of -312,941 contracts through August 9th.