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