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Speculators trimmed net bullish positions for 5th straight week

FXStreet (Mumbai) - The data released by the Commodity Futures Trading Commission (CFTC) for the week ended Dec 1 showed traders trimmed the net bullish positions for 5th straight week.

The non-commercial futures contracts of Comex gold futures, traded by large speculators and hedge funds, witnessed a weekly change of -6,552 contracts to total a net position of +9,750 contracts. The weekly bullish positions dropped by 648 contracts, while the bearish positions rose by 5904 contracts.

The commercials, hedgers or traders engaged in buying and selling for business purposes, decreased their overall bearish positions for a fifth week to a net total position of -2,911.

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