CFTC Commitments of Traders – Traders Raised Bets for Higher Precious Metal Prices

New York (July 28)  According to the CFTC Commitments of Traders report for the week ended July 24, NET LENGTH for gold futures gained +5 749 contracts to 251 250. Speculative long positions rose +2 346 contracts, while shorts fell -3 403. For silver futures, speculative long positions rose +9 680 contracts while shorts declined -7 656. NET LENGTH for silver futures soared +17 336 contracts to 54 761. For PGMs, NET LENGTH of Nymex platinum futures rose +5 298 contracts to 20 890 while that for palladium added +36 contracts to 12 471.

NET LENGTH for crude oil futures declined -25 911 contracts to 397 581 for the week. Speculative long positions dropped -7 544 contracts and shorts increased +18 367 contracts. For refined oil products, NET LENGTH for gasoline fell -6 103 contracts to 73 872, while NET SHORT for heating oil dropped -3 029 contracts to 2 716 for the week. NET SHORT for natural gas futures soared +35 808 contracts to 191 423 contracts for the week.

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