- Will Russia Attack the Dollar By BUYING GOLD? – Alasdair Macleod February 26, 2017 The Doc
- Man In Hiding After Confessing To Illegal Fundraising For The Clintons: “Fears Untimely Death” February 26, 2017 The Doc
- Why Is NASA Using The Discovery Of 7 New Earth-Sized Planets To Promote The Idea That Alien Life May Exist? February 25, 2017 The Doc
- Gold Prices 'Bullish' as ETFs Swell, Equities Drop with Bond Yields, Only Inflation 'Can Fix Western Debt' February 24, 2017 Adrian Ash
- Gold Bars Hit Post-Trump High as Fed Fears Inflation, LME 'Cuts Deal' with Bullion Trading Banks February 23, 2017 Adrian Ash
- Euro Gold Hits Post-Trump High as 'Flight to Quality' Tracks Le Pen's French Poll Ratings February 22, 2017 Adrian Ash
Bullish Signal? Funds Gold Bets Are At 3-Year Low
Money managers cut their bullish bets on Comex gold futures and options in the week ended April 24 to the lowest level in more than three years, according to data released Friday by the Commodity Futures Trading Commission.
Managed funds slashed 2,225 long positions, or bets prices will rise, and added 2,450 short positions, or bets prices will fall.
This took their net position down 4% to 107,600 long contracts, from 112,275 long contracts. That’s the lowest in CFTC data since the week ended Jan. 20, 2009.
The net position is the difference between the number of long and short contracts held by traders in the category and shifts in the net positions are considered as indicators of change in sentiment.
The managed-fund net long position represents around 10.7 million troy ounces of gold.
In Comex silver futures and options, these traders added 248 long contracts and 2,883 short contracts. This reduced their net long position by 20% to 10,756 contracts, from 13,390 contracts the previous week.
The net silver position represents around 53.7 million troy ounces of silver.