CFTC: COMEX gold net long positions dropped to 111,079 contracts

The data released by the U.S. Commodity Futures Trading Commission (CFTC) shows that in the week ending October 13, speculative traders in the COMEX gold market reduced their net long positions by 3,741 contracts, bringing the latest net long position to 111,079 contracts. Such position data often reflects short-term speculative capital’s changing expectations regarding gold price trends. A reduction in net long positions usually means that some speculative capital has weakened confidence in the subsequent rise of gold prices.