COMMITMENT OF TRADERS REPORT SUMMARY (Gold):
The "Current Report" figures below are open positions as of June 23, based on the government report issued on June 26 (reports are issued every Friday as of the previous Tuesday, holidays excepted - (Click here for release schedule)) (see note on commercial hedging below):
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L O N G P O S I T I O N S |
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Current Report |
17 Weeks Ago |
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Current Report | |
| Large Speculators | 54% | 54% | 52% | 48% | 47% | 46% | 50% | 48% | 48% | 49% | 50% | 51% | 51% | 53% | 55% | 56% | 54% | 53% | 8% | 10% | 8% | 9% | 7% | 7% | 7% | 11% | 11% | 11% | 12% | 13% | 10% | 8% | 7% | 7% | 7% | 8% |
| Small Speculators | 14% | 14% | 14% | 14% | 13% | 13% | 13% | 14% | 14% | 14% | 16% | 15% | 15% | 15% | 14% | 14% | 14% | 13% | 6% | 7% | 6% | 7% | 6% | 5% | 6% | 7% | 7% | 7% | 7% | 6% | 6% | 8% | 4% | 5% | 5% | 6% |
| Commercial | 25% | 26% | 27% | 29% | 31% | 33% | 29% | 29% | 28% | 27% | 24% | 24% | 23% | 21% | 21% | 20% | 22% | 23% | 79% | 77% | 79% | 75% | 78% | 80% | 79% | 73% | 72% | 72% | 71% | 71% | 73% | 73% | 79% | 78% | 78% | 75% |
| Offsetting spreads | 7% | 6% | 7% | 9% | 9% | 8% | 8% | 9% | 10% | 10% | 10% | 10% | 11% | 11% | 10% | 10% | 10% | 11% | 7% | 6% | 7% | 9% | 9% | 8% | 8% | 9% | 10% | 10% | 10% | 10% | 11% | 11% | 10% | 10% | 10% | 11% |
| TOTAL | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% |
| No. of open contracts |
361,619 |
372,697 |
365,271 |
371,321 |
376,237 |
387,177 |
368,618 |
344,929 |
339,226 |
343,037 |
341,461 |
359,517 |
367,931 |
396,965 |
391,057 |
387,181 |
371,997 |
370,347 |
361,619 | 372,697 | 365,271 | 371,321 | 376,237 | 387,177 | 368,618 | 344,929 | 344,929 | 343,037 | 341,461 | 359,517 | 367,931 | 396,965 | 391,057 | 387,181 | 371,997 | 370.347 |
(*Figures may be rounded off to add to 100%)
Click for Technical Analysis of the GOLD market.
(Click here for actual figures for the years: 2002-9 (to date) 2001 2000 1999).
For a longer comparison in another format click here.
Total (both large and small) long speculators outnumber the short speculators, 66% to 14% (as of June 23).
For more detail or to see the original government issued report, click here: Commitment of Traders and scroll down to the gold section.
| A note
about industry hedging:
The futures market exists for the benefit of commercial gold buyers (mostly jewelry buyers) and sellers (mostly mining companies) to be able to lock in a profit. An industry buyer or seller can lock in a profit if futures price are right. . If a mining company passes up the opportunity to lock up a profit, it will be speculating instead. Most businessmen agree that if you can lock up a profit rather than speculate, you should do so. Solid, long lasting companies are usually not based on speculation. Therefore, the percentage of commercial positions does not necessarily reflect the industry attitude toward the price, but rather has more to do with locking up a profit for the company. |
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* (*Figures are rounded off to add to 100%)