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2026-10-31 03:32:25
Data released by the U.S. Commodity Futures Trading Commission (CFTC) shows that in the week ending October 27, speculators in the COMEX gold market reduced their net long positions by 1,283 contracts, bringing the total net long position down to 107,404 contracts. Speculators in the COMEX silver market reduced their net long positions by 844 contracts during the same period, bringing the total net long position down to 2,902 contracts. Speculators in the COMEX copper market reduced their net long positions by 7,577 contracts, bringing the current net long position to 40,432 contracts. These changes in speculative positions typically reflect, to some extent, shifts in short-term market participants' expectations regarding the future price movements of precious and industrial metals. The general reduction in net long positions also indicates a cooling of bullish sentiment towards these three commodities during the week.
