Gold speculators reduced overall bullish positions

FXStreet (Mumbai) - As per the Commodity Futures Trading Commission, Gold traders very slightly trimmed their gold bullish positions last week to lower the overall bullish bets for a second straight week.

The non-commercial futures contracts of Comex gold futures witnessed a weekly change of -284 contracts to total a net position of +104,410 contracts in the data reported through June 2nd. The weekly bearish positions rose by +2,632 contracts, while the weekly bearish positions rose by +2,348 contracts.

Meanwhile, during the reporting time period - May 26th to June 2nd - gold price edged higher from approximately USD 1,187.80/Oz to USD 1,194.40/Oz.