According to the CFTC Commitments of Traders report for the week ended July 28, NET LENGTH for crude oil futures plunged -16 307 contracts to 532 569 for the week. Speculative long position slumped -11 088 contracts, while shorts gained +5 219. For refined oil products, NET LENGTH for gasoline decreased -1 628 contracts to 50 411, while NET LENGTH for heating oil futures added +2 949 contracts to 10 686. NET SHORT for natural gas futures decreased -4 186 contracts to 18 694 contracts for the week.
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Gold futures’ NET LENGTH declined contracts to 236 801. Speculative long positions decreased +21 649 contracts while shorts added +7 986. Profit-taking might be seen in the coming weeks as gold price has rallied for 8 consecutive weeks. Silver futures’ NET LENGTH fell -19 447 contracts to 27 308. For PGMs, NET LENGTH of Nymex platinum futures gained +2 000 contracts to 22 412 while that for palladium added +434 contracts to 3 116.
