Gold COT Report
Weekly CFTC positioning in COMEX gold futures: what large speculators and commercial hedgers hold, charted against the gold price. Updated automatically.
Speculator net position vs gold price (weekly)
Last 10 weeks (contracts, report date = Tuesday)
| Date | Spec long | Spec short | Spec net | Commercial net | Open interest |
|---|---|---|---|---|---|
| 2026-10-13 | 245,300 | 37,421 | +207,879 | -242,531 | 396,345 |
| 2026-10-06 | 245,403 | 35,068 | +210,335 | -244,527 | 396,109 |
| 2026-09-29 | 249,736 | 31,104 | +218,632 | -250,967 | 406,456 |
| 2026-09-22 | 253,982 | 28,129 | +225,853 | -262,903 | 412,800 |
| 2026-09-15 | 258,059 | 27,721 | +230,338 | -261,721 | 409,899 |
| 2026-09-08 | 261,007 | 29,047 | +231,960 | -270,274 | 411,227 |
| 2026-09-01 | 260,485 | 32,361 | +228,124 | -264,718 | 415,196 |
| 2026-08-25 | 277,159 | 33,825 | +243,334 | -279,585 | 427,957 |
| 2026-08-18 | 256,902 | 34,713 | +222,189 | -258,418 | 406,260 |
| 2026-08-11 | 250,936 | 32,996 | +217,940 | -252,640 | 400,309 |
Source: CFTC Commitments of Traders (legacy, futures only), COMEX gold 088691. Data updated . Updates automatically several times a day.
This week's gold positioning
In the report dated 2026-10-13, large speculators held a net position of +207,879 contracts (-2,456 from the week before). That sits at the 51th percentile of the last 156 weeks. Commercial hedgers were net -242,531.
Who is in the COT report?
- Non-commercials (large speculators): hedge funds, CTAs and other large traders who trade for profit. Their net position is the number most people watch.
- Commercials: miners, refiners, jewelers and bullion banks that use futures to hedge physical business. They are usually net short gold.
- Non-reportables: smaller traders below the reporting threshold.
How traders use COT data
COT is slow context. It is weekly, and it is already three days old when it is published. Useful questions:
- Is speculative positioning stretched (near a 3-year high or low)? Stretched markets can move sharply when positions unwind.
- Is the price rising with rising net longs (participation), or while net longs fall (short covering)?
- Did positioning change sharply around a Fed meeting or CPI report? See trading gold on Fed day.
Frequently asked questions
What is the COT report for gold?
The Commitments of Traders (COT) report is published weekly by the US Commodity Futures Trading Commission (CFTC). It shows how different groups of traders are positioned in COMEX gold futures, as of the Tuesday of each week.
When is the COT report released?
Normally every Friday at 3:30 pm US Eastern time, with data as of the previous Tuesday. US holidays can delay it. Because of that lag, it describes positioning a few days ago, not right now.
What does net long mean in the COT report?
Net long = long contracts minus short contracts for a group. For gold, non-commercial traders (large speculators such as funds) are usually net long, and commercials (producers, refiners, bullion banks hedging) are usually net short.
Is a high speculator net long bullish or bearish for gold?
Neither on its own. A very crowded long position can mean the market is vulnerable if speculators sell, but crowded positioning can stay crowded for months. Many traders use COT extremes as context for risk, not as a timing signal.
What is the percentile shown on this page?
It compares this week’s speculator net position with the last three years of weekly readings. 90% means the current net long is higher than about 90% of readings in that period.
Does the COT report include spot XAUUSD or CFD trading?
No. It covers regulated US futures (COMEX gold). Spot and CFD positions at brokers are not included, but futures positioning is widely watched because it reflects large institutional flows.
Educational tool only. Not financial advice and not a signal. Check your own broker's contract specification, margin rules and costs. Past data does not predict future prices. See our risk disclaimer.