GOLD COT report

GOLD - COMMODITY EXCHANGE INC. positioning from the CFTC Legacy report. Net positions equal long contracts minus short contracts. Commercial, non-commercial and non-reportable classifications describe participants; they are not buy or sell signals.

Positions as of 2026-10-27. Open interest: 396810 contracts. This is the latest stored observation, not live trading data.

How are traders positioned?

Non-commercial percentile: 30 across 103 stored observations. This is the share of sampled net positions at or below the latest value, not a price forecast.

Historical AI commentary — 2026-07-07

This commentary is dated separately from the positioning table. It may describe an earlier market environment.

SUMMARY: Gold's speculative positioning is at an all-time high (100th percentile) while hedgers are at an all-time low (0th percentile), creating an extreme setup. However, the 12-week trend for both groups is flat, meaning this extreme positioning has been stable, not building. This suggests the market is in a crowded trend that could continue, but the risk of a sharp reversal is elevated give...

How should this COT report be used?

Use positioning to understand exposure and crowded trades alongside price, liquidity and risk controls. Weekly reports generally describe Tuesday positions released on Friday, subject to the CFTC schedule. Classifications differ in TFF and Disaggregated reports. Compare like-for-like formats and dates.

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