This week's report shows a huge jump in gold speculators as longs increased their gold positions by some of the highest amounts in years as shorts abandoned their own positions.
The net speculative gold positions (money managers represented by the red line above) are now going parabolic as we match some of the all-time highs last seen near the gold peak of 2011 when gold was trading over $1800 per ounce. We did get that poor jobs report on Friday, and that caused gold to pop. But, while it still ended positive for the day, it gave up around half of its initial gain to close under $1290 per ounce - lower than its pre-jobs report Tuesday price.
Reference: CFTC, Hebba Investments LLC
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