The Conversation (0)
Kitco reported speculators cut back on their bullish exposure to precious metals, according to U.S. government data released Friday.
Kitco reported speculators cut back on their bullish exposure to precious metals, according to U.S. government data released Friday.
As quoted in the market news:
For the week ended July 24, speculators in the Commodity Futures Trading Commission’s weekly commitment of traders report reduced their net-long positions in all precious metals markets for both the disaggregated and legacy reports. Speculators’ net-short positions in copper increased.
Prices for U.S. metals futures mostly slid during the most recent reporting week that ended July 24. Comex August gold fell $13.30 an ounce to $1,576.20 as of July 24. September silver lost 50.5 cents an ounce to $26.811. Nymex October platinum sunk $34.10 to $1,386.60 an ounce, while September palladium slid $21.75 an ounce to $561.60.
Click here to read the full Kitco report.