Gold COT Report — Net Positioning
Gold futures · COMEX · CFTC contract code 088691
Latest positioning
Week ending 8 September 2026 · added 3,836 on the week · open interest 411,227 (-3,969)
Net speculative position — last 52 weeks
The current reading sits in the 64th percentile of its 3-year range — over the past 3 years, the net position has been lower than it is now 64% of the time. A high reading means the position is crowded by its own historical standards; it is context, not a forecast.
All three cohorts
| Category | Net position | Week change |
|---|---|---|
| Large speculatorsFunds and managed money | +231,960 | +3,836 |
| CommercialsProducers, users and banks hedging physical exposure | -270,274 | -5,556 |
| Small tradersBelow the CFTC reporting threshold | +38,314 | — |
The three cohorts net to zero between them — every long has a short on the other side. Commercials being heavily short is normal for a produced commodity and is not a bearish view; it is a hedge against inventory they already own.
Weekly history
| Week ending | Specs net | Open interest |
|---|---|---|
| 8 Sep 2026 | +231,960 | 411,227 |
| 1 Sep 2026 | +228,124 | 415,196 |
| 25 Aug 2026 | +243,334 | 427,957 |
| 18 Aug 2026 | +222,189 | 406,260 |
| 11 Aug 2026 | +217,940 | 400,309 |
| 4 Aug 2026 | +197,634 | 371,551 |
| 28 Jul 2026 | +182,070 | 384,603 |
| 21 Jul 2026 | +183,910 | 383,368 |
| 14 Jul 2026 | +186,682 | 383,689 |
| 7 Jul 2026 | +194,246 | 371,776 |
| 30 Jun 2026 | +194,019 | 369,541 |
| 23 Jun 2026 | +181,339 | 352,167 |
| 16 Jun 2026 | +180,220 | 339,330 |
| 9 Jun 2026 | +173,837 | 332,709 |
| 2 Jun 2026 | +176,020 | 326,052 |
| 26 May 2026 | +154,260 | 353,489 |
| 19 May 2026 | +159,833 | 379,325 |
| 12 May 2026 | +171,622 | 376,496 |
| 5 May 2026 | +163,303 | 367,932 |
| 28 Apr 2026 | +159,571 | 369,530 |
| 21 Apr 2026 | +164,006 | 365,842 |
| 14 Apr 2026 | +162,526 | 362,274 |
| 7 Apr 2026 | +156,305 | 354,877 |
| 31 Mar 2026 | +163,202 | 361,409 |
| 24 Mar 2026 | +168,327 | 403,925 |
| 17 Mar 2026 | +159,869 | 411,388 |
| 10 Mar 2026 | +163,132 | 413,956 |
| 3 Mar 2026 | +160,145 | 409,789 |
| 24 Feb 2026 | +159,177 | 420,182 |
| 17 Feb 2026 | +159,915 | 407,078 |
| 10 Feb 2026 | +160,012 | 404,391 |
| 3 Feb 2026 | +165,604 | 409,694 |
| 27 Jan 2026 | +205,396 | 488,463 |
| 20 Jan 2026 | +244,770 | 528,004 |
| 13 Jan 2026 | +251,238 | 527,455 |
| 6 Jan 2026 | +227,632 | 488,116 |
| 30 Dec 2025 | +231,173 | 481,866 |
| 23 Dec 2025 | +240,700 | 492,103 |
| 16 Dec 2025 | +233,978 | 471,093 |
| 9 Dec 2025 | +223,886 | 432,569 |
| 2 Dec 2025 | +217,560 | 418,490 |
| 25 Nov 2025 | +204,588 | 432,946 |
| 18 Nov 2025 | +210,339 | 471,953 |
| 10 Nov 2025 | +207,069 | 459,997 |
| 4 Nov 2025 | +202,307 | 450,399 |
| 28 Oct 2025 | +204,664 | 457,122 |
| 21 Oct 2025 | +176,609 | 472,421 |
| 14 Oct 2025 | +203,916 | 485,788 |
| 7 Oct 2025 | +231,956 | 485,559 |
| 30 Sep 2025 | +252,908 | 493,748 |
| 23 Sep 2025 | +266,749 | 528,789 |
| 16 Sep 2025 | +266,410 | 516,221 |
Source: CFTC Commitments of Traders (Legacy, futures only) — a US government work, public domain. Positions are measured Tuesday and published the following Friday at about 15:30 ET, so this report is always at least three days behind the market. Positioning describes how traders are placed; it is not a forecast.