Gold speculators go bearish for the first time since 2002

The non-commercial futures contracts of Gold futures totaled a net position of -3,688 contracts in the week ended August 14th - down 16,376 contracts from the previous week's total of 12,688 net contracts.

The net positions turned bearish as the yellow metal fell to $1,160 on Thursday - the lowest level since January 2017.

As of writing, gold is trading at $1183.50.

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