Gold Short Position Grows by 12.1% to New 38-Month High

Gold's managed money short position increased by 12.1% during the week ending this past Tuesday to a new 38-month high of 96,895 contracts.

Gold's managed money short position almost definitely increased much further over the last four trading days, but the COT data is four days old when it gets released on Friday evening.

Gold's managed money short position of 96,895 contracts is 3.1X higher than the long-term median of 31,260 contracts.

The last time gold's managed money short position was this high on May 21, 2019, when it hit 99,049 contracts, gold gained by 5.73% within one month and gained by 36.38% within twelve months!