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CFTC Commitments of Traders – Bets on Gold and Silver Futures Trimmed as Prices Pulled Back after Rally

According to the CFTC Commitments of Traders report for the week ended August 11, NET LENGTH for crude oil futures plunged -15 331 contracts to 520 935 for the week. Speculative long position declined -10 925 contracts, while shorts added +4 406. For refined oil products, NET LENGTH for gasoline increased +5 022 contracts to 62 962, while NET LENGTH for heating oil futures dropped -1 996 contracts to 13 475. Natural Gas drifted to NET LENGTH of 13 515 contracts for the week.Gold futures’ NET LENGTH dived -14 693 contracts to 224 053. Speculative long positions declined -14 980 contracts while shorts also dropped -287. The yellow metal staged a sharp correction after rallying to record high.  Silver futures’ NET LENGTH declined -6 321 contracts to 23 568. For PGMs, NET LENGTH of Nymex platinum futures gained +2 766 contracts to 22 272 while that for palladium slipped -274 contracts to 2 698.

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