Speculators reduce Gold net bullish positions for the second week

FXStreet (Mumbai) - As per the data released by the Commodity Futures Trading Commission (CFTC), speculators reduced their overall bullish bets last week as positions decreased for a second straight week in the data reported through February 10th.

The non-commercial futures contracts of Comex gold futures stood at 155,274 contracts; down from the previous week’s total of 185,015 net contracts that was registered on February 3rd. The weekly bullish positions fell by 29,970 contracts that offset a decline of 229 contracts in the gold bearish positions. This was the largest weekly decline in speculative positions since November.

Meanwhile, during the reporting time frame, gold prices fell from USD 1,260.30/Oz to USD 1,232.20/Oz.