Speculators Are Holding Record Number Of Gold Futures

Last week ended in the highest number of net long positions of gold futures contracts held by speculators on the Comex division of NYME. Speculators had 239,668 buying contracts which is 6.7% higher than last month.

Carsten Fritsch of Commerzbank said that this could present a potential risk if gold declines below $1,000.

If you would like to trade gold, one of the most mentioned ETFs in the news is SPDR Gold Trust (ETF)(NYSE: GLD) which traded around 0.5% up on Monday. December 09 Gold Futures Contracts could also be a good choice, they were trading around $1,055.