Bullish bets on gold slashed for third straight week - CFTC

According to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday, bullish net positions in gold Comex futures was reduced for the third straight week.

Speculators have now reduced their bullish positions by over -70,000 contracts in the past three weeks which followed a streak of six straight weekly gains.

The non-commercial futures contracts of Comex gold futures booked a weekly drop of -23,282 contracts from the previous week which had a total of 150,006 net contracts. Meanwhile, the commercial traders position witnessed weekly gain of 21,563 contracts from the total net of -164,422 contracts reported the previous week.