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Gold $3,329.78 $3.67 0.11% Silver $36.69 $(0.14) -0.39% Platinum $1,382.56 $9.17 0.67% Palladium $1,134.53 $0.74 0.07%

Zaner Daily Precious Metals Commentary

Zaner Daily Precious Metals Commentary

Gold futures gapped higher this morning to a new post-Hamas attack high of $2,004.

Gold positioning in the Commitments of Traders for the week ending October 24th showed Managed Money traders net bought 48,815 contracts and are now net long 90,682 contracts. Non-commercial & non-reportable traders were net long 169,754 contracts after increasing their already long position by 43,725 contracts.

With the December gold contract into the high Friday sitting $37 above the level where the last positioning report was measured, the net spec and fund long is only the highest since July...[MORE]

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