Bullish bets on gold slashed for the 2nd straight week - CFTC

Dhwani Mehta FXStreet

According to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday, the large speculators and hedge funds cut their bullish bets on gold by -27,647 contracts from the previous week to a net position of 106,038 contracts in the week ended March 14th.

Meanwhile, hedgers or traders increased bullish positions in gold to a net position of -123,287 contracts last week, rising 29,361 contracts from the previous week.

1. R3 1229.57
2. R2 1229.44
3. R1 1229.18
PP 1229.05
1. S1 1228.79
2. S2 1228.66
3. S3 1228.40

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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