Commodities Positioning Holds Bullish as Prices Consolidate
Gold prices held near $4,476 as speculators remain overwhelmingly net long despite a 6.3% reduction in bullish bets week-over-week. Silver prices dipped to $66.75 while non-commercial traders increased net longs by 5.8% to 26,739 contracts. Crude oil consolidated around $91.48 with fresh capital entering the market. Copper edged up to $6.68 with positioning steady. Across the commodities complex, resilience persists amid a firm dollar and steady demand.
Key Takeaways Gold speculators remain net long 228,124 contracts despite a 6.3% weekly reduction. Silver speculators increased net longs to 26,739 contracts as prices dipped, signaling accumulation. Crude oil speculators added net longs to 129…
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