Speculators trimmed net bullish positions in Gold last week

FXStreet (Mumbai) - The data released by the Commodity Futures Trading Commission (CFTC) showed the speculators reduced their overall gold bullish positions for a second straight week last week.

The non-commercial futures contracts of Comex gold futures, traded by large speculators and hedge funds witnessed a weekly change of -16,707 contracts to total a net position of +50,448 contracts in the data reported through July 7th. The weekly bearish positions rose by 16,007 contracts and the weekly bullish positions fell by -700 contracts.

The yellow metal currently trades around USD 1160/Oz, up just 0.15% on the day.