News) - Money managers trimmed their net-bullish positioning in gold futures modestly – but hiked the silver one – during the most recent reporting week for data compiled by the Commodity Futures Trading Commission (CFTC).
During the week-long period to March 31 covered by the last CFTC report, June gold lost $66.70 to $1,596.60 an ounce, while May silver slipped 10.1 cents to $14.156.
Net long or short positioning in CFTC data reflect the difference between the total number of bullish (long) and bearish (short) contracts. Traders monitor the data to gauge the general mood of speculators, although excessively high or low numbers are viewed by many as signs of overbought or oversold markets that may be ripe for price corrections.