COMEX Gold Jumps Near Three And Half Month High

Published on May 18, 2021 13:00

Gold soared yesterday amid excellent buying support as weakness in the US dollar index, which lingered around two and half month low near 90 mark pushed up the metal impressively. COMEX Gold has rallied near a three and half month high today and currently trades up 0.14% at $1870 per ounce. Large precious metals speculators sharply increased their net long positions in the Gold futures markets, 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 192255 contracts in the data reported through May 10th 2021. This was a weekly spurt of 21514 net contracts and took net longs to two and half month high.