Notice the Producers, Merchants and Processors are the biggest followed by the Swap dealers.
So going by this it is the Producers and those that want to buy low who are shorting the POG.
This could be China so they can buy lots of Gold for their new futures markets.
Could also be the producers themselves taking hedging positions through the banks like they did a couple of years ago
Also the banks figure significantly in these figures with 75,406 short contracts = 4,540,600 ounces short.
However you interpret this it is interesting.
Figures are in contracts.
Each contract is for 100 troy ounces of 99.999% purity.
COTS Report for 29 Nov 2016
Producer, Merchant, Processor, User:
long short
45,512 133,012
Swap Dealers
long short
26,769 99,256
Managed Money
long short
159,758 56,366
Other Reportables
long short
63,266 23,951
Non Reportable
long short
49,962 32,681
Bank participation in Contracts
L=long, S=Short, the last column is total open interest.
|
Column 1 |
Column 2 |
Column 3 |
Column 4 |
Column 5 |
Column 6 |
Column 7 |
| 1 |
U.S.
|
5
|
L 8,537
|
%1.6
|
S 75,406
|
%14.5
|
495,525
|
| 2 |
NON U.S.
|
28
|
18,951
|
3.6
|
83,178
|
15.9
|
|
| 3 |
|
33
|
27,488
|
5.3
|
158,584
|
30.4
|
|
