Gold net longs at record highs

By Peter Boockvar - September 11th, 2009, 3:58PM

According to the just reported CFTC data for the week ended Tuesday, the net spec long position in gold rose to an all time record high (dating back to 1993), up 22% on the week to a net 225k contracts. Silver net longs rose to the most since Aug ’08 and net longs in platinum rose to a record high. Most other commodity changes in position were little changed and remain range bound.

PERMALINK
Category: MacroNotes.

Comments

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

6 Responses to “Gold net longs at record highs”

leftback Says:
September 11th, 2009 at 4:13 pm
That more or less squares with the dollar where only about 2% are now bullish. It was 3% until this morning…
Now there are some sentiment extremes.
Andy T Says:
September 11th, 2009 at 7:20 pm
I’m sure this is all going to work out great.
Andy T Says:
September 11th, 2009 at 7:24 pm
Actually, among large and small specs, they’re at 87% bullish skew, that matches the highest skews we’ve seen during this decade….not really something you see at the early or middle stages of bull market.
miczukow Says:
September 12th, 2009 at 7:29 am
How do u count net number of long positions in commodities? any long position has equal short one attached, hasn’t it?
dougc Says:
September 12th, 2009 at 10:40 am
he is referring to the amount of contracts held by speculators…… the other side are the gold companies
Seattle Chill Says:
September 12th, 2009 at 2:30 pm
More importantly, in my view, is the huge net short position of the commercials. The miners are far more hedged than they were at the all-time high in 2008.