Gold bullish positions drop for fifth week

FXStreet (Mumbai) - As per the data released by the Commodity Futures Trading Commission (CFTC), speculators reduced their bullish positions for a fifth straight week taking the overall bullish positions at the lowest levels since December.

The total non-commercial futures contracts of Comex gold futures stood at +115,820 contracts in the data reported through March 3rd. The weekly bullish positions fell by 3,855 contracts combined with a rise in the weekly bearish positions by 6,496 contracts, thereby registering a weekly change of -10,351 contracts.

Meanwhile, during the reporting period - February 24th to March 3rd – Gold prices remained more or less unchanged around USD 1204.-1205/Oz levels.