Gold net longs jump as CFTC data shows broad positioning shift
Speculative gold positioning saw its largest weekly increase since early June in the week to August 25. CAD short covering led broader shifts across currencies and commodities.
Gold Market
Speculative gold positioning saw its largest weekly increase since early June in the week to August 25. CAD short covering led broader shifts across currencies and commodities.
Gold futures on the MCX rose ₹1,283 to ₹1,63,721 per 10 grams for October delivery, driven by fresh positions and firm spot demand. Globally, gold gained 0.99% to $4,648.78 per ounce.
The gold-silver ratio divides the gold price by the silver price, offering traders a relative-value gauge between the two metals.
Gold advanced to $4,397 an ounce on Friday, heading for a 9% monthly rise as softer US inflation figures reduced the likelihood of a September Federal Reserve rate increase.