Shift in financial investor sentiment towards Gold – Commerzbank – Crypto News – Crypto News
Connect with us
XAU/USD buyers eye $1,830 hurdle ahead of US ISM Services PMI XAU/USD buyers eye $1,830 hurdle ahead of US ISM Services PMI

others

Shift in financial investor sentiment towards Gold – Commerzbank – Crypto News

Published

3 years ago

on

Share:

The CFTC market positioning data published on Friday revealed a shift in financial investor sentiment towards Gold, economists at Commerzbank report.

Short positions are likely to have been further reduced

At the end of the latest reporting week on 17 October, financial investors were on balance betting on a rising Gold price again. The data show net long positions amounting to 15,100 contracts, compared to net short positions totalling 26,700 contracts a week earlier. Three quarters of the shift of just shy of 42,000 contracts was due to short covering, which shouldn’t come as any surprise in view of the price performance. 

Short covering and the simultaneous build in long positions combined amounted to the equivalent of 130 tons of Gold being purchased via the futures market. 

As the Gold price climbed further in the subsequent days, short positions are likely to have been further reduced and long positions further increased in the meantime.

 

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending