Speculators reduce bullish positions on Gold

June 15, 2015

As per the data released by the Commodity Futures Trading Commission (CFTC), speculators sharply reduced gold bullish positions last week and decreased their overall bullish bets for a third straight week. 

The non-commercial futures contracts of Comex gold futures witnessed a weekly change of -29,320 contracts to total a net position of +75,090 contracts during the reporting time period - June 2nd to June 9th. The weekly bearish positions rose by 21,834 contracts that combined with a decrease in the weekly bearish positions by 7,486 contracts. 

Meanwhile, during the reporting time period, gold price dropped from approximately USD 1,194.40/Oz to USD 1,177.60/Oz

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