Speculators reduced net bullish positions on Gold

FXStreet (Mumbai) - As per the data released by the Commodity Futures Trading Commission (CFTC), speculators reduced their bullish positions on gold last week, after having increased bullish positions in the previous two weeks.

The non-commercial futures contracts of Comex gold futures witnessed a a weekly change of -17,927 contracts to total a net position of +104,694 contracts during the reporting time period - May 19th to May 26th. Weekly bullish positions fell by 10,239 contracts combined with an advance in the weekly bearish positions by +7,688 contracts.

Meanwhile, over the reporting time period, gold price dropped from approximately USD 1,206.70/Oz to USD 1,187.80/Oz.