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CFTC Commitments of Traders – Rally in Gold Price should Lead to Rebound in Net Long Next Week

According to the CFTC Commitments of Traders report for the week ended December 14, NET LENGTH of crude oil futures slumped -20 095 contracts to 347 137. Speculative longs declined -9 352 contracts while shorts gained +10 743 contracts. For refined oil products, NET LENGTH for heating oil dropped -3 874 contracts to 4 723, while that for gasoline gained +6 551 contracts to 56 434. NET SHORT of natural gas futures dropped -2 217 contracts to 130 226 during the week. Gold futures’ NET LENGTH slumped -14 784 contracts to 202 401. Silver futures’ NET LENGTH fell -7 849 contracts to 21 984. For PGMs,  NET LENGTH of Nymex platinum futures declined -2 331 contracts to 3 731, while NET SHORT for palladium futures gained +1 043 contracts to 3 774.

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