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Speculators pushed up bullish bets sharply in Gold

FXStreet (Mumbai) - The latest data released by the Commodity Futures Trading Commission (CFTC) showed speculators raised their gold bullish positions higher last week for a fourth straight week.

The non-commercial futures contracts of Comex gold futures, traded by large speculators and hedge funds, witnessed a weekly change of +30,340 contracts to total a net position of +117,159 contracts in the data reported through October 13th. The weekly bullish positions rose by +12,299 contracts, while the weekly bearish positions fell by -18,041 contracts.

The commercials, hedgers or traders engaged in buying and selling for business purposes, cut their overall bearish positions for a fourth week to a net total position of -118,494 contracts through October 13th.

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