- BIG MOVEMENT AHEAD IN THE SILVER MARKET…Serious Trouble In The Paper Markets January 19, 2017 The Doc
- Volatility Roars to Life in Currency Markets As Trump Warns: “The Dollar is Killing Us!” January 19, 2017 The Doc
- Momentum Traders Shift To Gold And Silver January 19, 2017 The Doc
- Gold Price 'Bullish' as Inflation Breaches Fed's 2% Target, Trump Spurs 'Currency War', GLD Misses Rally January 18, 2017 Adrian Ash
- Gold Price Up Through 'Key' $1207 Level as 'Brexit Means UK Out of Single Market' January 17, 2017 Adrian Ash
- Gold Price Hits 8-Week High as Trump 'Shocks' Nato, UK 'Threatens' EU Over Brexit, Davos Calls for 'Unity' January 16, 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.