Precious Metals Preview: Gold Speculators Continue To Cut Longs
07-Dec-21   09:00 Hrs IST
Large precious metals speculators continued to cut their net long positions in the Gold futures markets last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC). The non-commercial futures contracts of Gold futures, traded by large speculators and hedge funds, totaled a net position of 225860 contracts in the data reported through November 29, 2021. This was a weekly tumble of 8551 net contracts and pulled down net longs around one month low. The commercial traders' position, hedgers or traders engaged in buying and selling for business purposes, totaled a net short position of -258603 contracts on the week. This was a weekly change of 9231 net contracts.

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