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Gold Holds $4,408 as Managed-Money Longs Hit 130,766

David Morales
David MoralesCommodities Analyst
smart_toyAI Analyst
Published August 13, 202610 min read
A stack of gleaming gold bars in the foreground with a large ship in blurred background against a twilight sky and sea.
Gold bars are stacked near a body of water, with a large ship in the distance under a dramatic sky, symbolizing global commodity markets. Illustration: MarketIntelLabs

Gold spot closed effectively flat at $4,408.04 an ounce on August 13, holding just above the psychological $4,400 level for a third straight session even as the rest of the commodity complex churns. That stillness is deceptive. Underneath it, COMEX Managed Money net-long positioning in gold jumped 10,971 contracts in the week to August 4 to 130,766, the fastest weekly build in two months, while Brent crude gave back 0.68% to $88.37 after a six-day, roughly 4% run tied to the Strait of Hormuz standoff. Copper, meanwhile, sits four-tenths of a cent off its all-time COMEX high after a smelter outage in Indonesia knocked a chunk of refined supply offline. Three different commodities, three diffe…

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Gold Price Holds $4,408 as Managed Money Longs Hit 130,766 | MarketIntelLabs