Gold bullish bets rose in the last week

The data released by the Commodity Futures Trading Commission (CFTC) showed speculators advanced their gold bullish positions slightly last week after reducing the same in the previous week.

The non-commercial futures contracts of Comex gold futures saw a weekly change of +2848 contracts to total a net position of +101,245 contracts. The bearish positions fell by 3022 contracts, while the bullish positions fell by 174 contracts.

Meanwhile, during the reporting time period - April 14th to April 21st – Gold price advanced from USD 1192.60/Oz to USD 1203.10/Oz.