Large Funds Bullish Position In Gold

Written by Staff Writer

1280px Bulle und Bär FrankfurtFunds Increase Bullish Position In Gold -Kitco
"Large speculators upped their bullish positioning in gold...during the most recent reporting week for data compiled by the Commodity Futures Trading Commission....

Net long or short positioning in the CFTC data reflect the difference between the total number of bullish (long) and bearish (short) contracts. Traders monitor the data to gauge the general mood of speculators....'Funds were probably looking at the Federal Reserve being more accommodative,' said Phil Flynn, senior market analyst with Price Futures Group. That would prompt expectations for a softer U.S. dollar and as a result, help prop up gold, he continued. Following a corrective U.S. dollar trend, stronger gold prices … 'prompted money managers to load up,' said TD Securities."