The disaggregated data revealed that money managers cut their gross shorts by 12,452 lots. The variety of brand-new longs increased by a modest 616.
We found this article at https://www.kitco.com/news/2019-03-25/Fund-Managers-Increase-Bullish-Posture-In-Gold.html By: Allen Sykora
” Indeed, the Fed provided a substantially more dovish message than the marketplace anticipated as it eliminated a walking this year. This triggered a relief rally, but no surge into a continual breakout.”
” Money supervisors aggressively covered their short gold positions and took out brand-new long exposure as they anticipated the FOMC to sound a dovish tone,” said TD Securities. 30,500 agreements in the week to 19 March, according to the CFTCs statistics,” said Commerzbank. “In our opinion, this more paves the way for gold as it continues on its growth.”
Markets apparently were considering a more dovish U.S. Federal Reserve even prior to policymakers provided markets a dovish surprise for the second straight conference, experts stated.
” Speculative monetary investors are … likely to continue betting on increasing gold prices after having already stepped up their net-long positions considerably to [almost] 30,500 contracts in the week to 19 March, according to the CFTCs data,” stated Commerzbank. “In our opinion, this additional paves the way for gold as it advances its increase.”
Throughout the week-long period to March 19 covered by the report, Comex April gold increased by $8.40 to $1,306.50 an ounce, while May silver dipped 4.1 cents to $15.372.
Here is a short article about fund managers sharply increased their bullish positioning in gold. If you check the original post you can discover the link at the end of the post.
” Money managers aggressively covered their brief gold positions and took out brand-new long direct exposure as they expected the FOMC to sound a dovish tone,” stated TD Securities.
Net long or brief positioning in the CFTC information reflect the distinction between the total number of bullish (long) and bearish (short) contracts. Traders keep an eye on the information to assess the basic state of mind of speculators, although exceedingly high or low numbers are viewed by numerous as indications of overbought or oversold markets that might be ripe for rate corrections.
The CFTCs newest “disaggregated” report revealed that cash managers increased their net-long position in gold to 30,475 futures agreements as of March 19 from 17,407 the week in the past.
The cut-off date for the data was one day ahead of the last meeting of the U.S. Federal Open Market Committee, in which policymakers collectively signaled that there may be no rate hikes in all of 2019.
Fund managers greatly increased their bullish positioning in gold futures during the most current reporting week for information put together by the Commodity Futures Trading Commission.
On the other hand, in the case of silver, the funds net length increased somewhat to 9,716 lots from 9,487 as the quantity of fresh buying slightly outpaced the fresh selling. Gross longs increased by 814 lots, while total shorts increased by 585.
