Gold market: futures trading data is a long time coming

CoT data late

Due to the stock exchange holiday in the USA (Independence Day) last Friday, the CoT data of the past week will be delayed. They are expected for Monday after the US market closes. What has been available so far are the figures for trading in gold futures as of July 2, 2020 (last Thursday). At the end of the day there was an open interest of 556,866 contracts. This corresponds to an increase of 2 percent compared to Friday the previous week.

 

Gold price rose

The gold price in US futures trading (August contract) closed at $ 1,787 on Thursday, an increase of 1 percent compared to the previous week. At the same time, gold was trading at $ 1,775 on the spot market. The price started the weekend at $ 1,774 an ounce (FOREX).

 

Warehouse and call

Gold inventories in the COMEX deposits have recently totaled 32.44 million ounces (up 730,000 ounces). The amount eligible for immediate delivery to customers is 19.58 million ounces (plus 610,000 ounces). For your orientation: With the above-mentioned open interest, up to 55.68 million ounces could theoretically be called up physically.In the current contract month, there have been 4,973 applications for physical delivery of the gold traded. For comparison: June produced a record 55,102 delivery notices.