On February 1st, the US Commodity Futures Trading Commission (CFTC) reported that as of the week ending January 28th, speculators’ net long positions in COMEX gold decreased by 3766 contracts to 230592 contracts; The absolute value of long positions increased to 242828 contracts, setting a new three-month high. On January 30-31, gold prices continued to hit historic highs, reaching as high as $2817.18 per ounce at one point. The net long position in COMEX silver has decreased to 26318 contracts, hitting a three week low; The net long position in COMEX copper has decreased to 15523 contracts. The net long position in NYMEX platinum increased to 2395 contracts, while the net short position in NYMEX palladium decreased to 8513 contracts, hitting a seven week low.
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