Gold Positioning Confirms Rally as Oil Prices In Hormuz Risk
Gold futures closed Tuesday at $4,694.00, up more than 15% over the trailing month, and this time the positioning data backs the move instead of flashing a warning. CFTC Commitments of Traders data for the week ended August 18 show managed-money net longs at 222,189 contracts, up 4,249 from the prior week. That is a measured build, not the kind of parabolic chase that usually precedes a flush. Silver is telling a different story entirely, and crude is pricing a geopolitical risk that has not yet shown up in a single barrel of lost supply.
Key Takeaways Gold futures (GC=F) closed at $4,694.00 on August 25, up 15.33% over the trailing month, with CFTC managed-money net longs rising 4,249 contra…
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