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Commitment of Traders figures for gold

Commitment of Traders figures for gold

Between 2 July —9 July, Comex Open Interest rose by 61,594 contracts, rising a further 32,642 contracts to last Friday (preliminary figures). This suggests that gold is overbought. But is it?

Alasdair Macleod's avatar
Alasdair Macleod
Jul 13, 2024
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MacleodFinance Substack
MacleodFinance Substack
Commitment of Traders figures for gold
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The chart below shows how OI has rocketed since 11 June:

But to find the true position, we need to dig a little deeper.

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