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Gold COT (CFTC - Commitment of Traders) for Period 6/6-6/12/2012

Commercials sold off -7,521 longs and covered 4,853 shorts to end the week with 54.94% of all open interest, a very minor change since last week, and now stand as a group at -15,879,200 ounces net short, only 250,000 added net short from the previous week. The producer/merchant portion actually increased 96 longs while covering -2,550 shorts. This was a very boring week! The method behind the madness is not too cause much stir in the speculators while the specs continue to add some longs since last Friday. A minor, fake raid happened on Thursday but the real raid is coming in the not too distant future.

Large speculators lost -2,703 longs and covered a huge -6,154 shorts for a net long position of 13,231,500 ounces, a increase in their net long position of about 8500,000 ounces from the prior week.

Small speculators were tricked out of -1,468 longs and covered -685 shorts for a net long position of 2,647,500 ounces a slight decrease in their net long positions from the prior week. The small specs are holding those short position ferociously.

As in my silver report, the gold report is even more boring. There was no significant activity by the commercials this week as some thought there was a raid on Thursday but this action was just done to make it look like there was actually a battle going on while the commercials are just lying in wait for more speculator longs to buy in before tripping their stops and executing more massive short coverings.

For your convenience, if you would like to contact the CFTC and express your views to them, I have provided you their phone numbers and I hope earnestly that you fill up their phone lines: http://www.cftc.gov/Contact/index.htm and email addresses as well:
ggensler@cftc.gov Chairman Gensler
bchilton@cftc.gov Commissioner Chilton
jsommers@cftc.gov Commissioner Sommers
Somalia@cftc.gov Commissioner O'Malia
mwetjen@cftc.gov Commissioner Wetjen
dmeister@cftc.gov Director Meister

Gold Commitment of Traders Chart

See you next week!

 

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