Large precious metals speculators raised their bullish net positions in the Gold futures markets last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC). The non-commercial futures contracts of Gold futures, traded by large speculators and hedge funds, totaled a net position of 78,327 contracts in the data reported through Tuesday July 3rd. This was a weekly rise of 1,655 contracts from the previous week which had a total of 76,672 net contracts. Gold speculative positions had tumbled to the lowest level since July 2017 before this recovery. The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -93,150 contracts on the week. This was a weekly increase of 1,813 contracts from the total net of -94,963 contracts reported the previous week.
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