Gold bullish positions for the third week

FXStreet (Mumbai) - As per the data released by the Commodity Futures Trading Commission (CFTC) on Friday showed gold speculators reduced their overall bullish bets sharply last week, registering a fall for a third straight week.

The non-commercial futures contracts stood at 131,734 contracts in the data reported through February 17th. The weekly bullish positions declined by 10,915 contracts, while the weekly bearish positions rose by 12,625 contracts. The net speculator position is now at the lowest level in six weeks.

Meanwhile, over the reporting time frame – Feb 10th to Feb 17th - gold price fell for a third week from approximately USD 1,232.20/Oz to USD 1,208.60/Oz.