CFTC Commitments of Traders – Traders Raised Bets for Higher Precious Metal Prices

According to the report for the week ended July 24, NET LENGTH for futures gained +5 749 contracts to 251 250. Speculative long positions rose +2 346 contracts, while shorts fell -3 403. For futures, speculative long positions rose +9 680 contracts while shorts declined -7 656. NET LENGTH for futures soared +17 336 contracts to 54 761. For PGMs, NET LENGTH of Nymex platinum futures rose +5 298 contracts to 20 890 while that for palladium added +36 contracts to 12 471.

NET LENGTH for crude oil futures declined -25 911 contracts to 397 581 for the week. Speculative long positions dropped -7 544 contracts and shorts increased +18 367 contracts. For refined oil products, NET LENGTH for fell -6 103 contracts to 73 872, while NET SHORT for heating oil dropped -3 029 contracts to 2 716 for the week. NET SHORT for futures soared +35 808 contracts to 191 423 contracts for the week.

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