Are gold bulls shooting for $1,500 before year’s end?

Market Pulse: Dec 6, 2010

COT data

We still see producers and swap dealers in extreme net short positions in this market. Combined, their net shorts went from 263,893 contracts to 270,469 contracts. Again, these are contracts net short.

Commercial Net Tracker instructions:
This form tracks the Commitment of Traders (COT) data for the commodity futures market. This form "looks" at the most recent five weeks of COT data and provides visual indications of the data. A. If the current value is at a 12-month low, the cell will display a red/burgundy background. B. If the current value is at a 12-month high, the cell will display a green background. C. If the current value went from net negative to net positive, the cell will display a blue background (indicating a bullish condition). D. If the current value is both a 12-month high and also went from a net negative to a net positive, the background will be green. You should view the data with green backgrounds to determine if they also went from net negative to net positive.

Commodity 12-mo low
12-mo hi
3-Dec
26-Nov
Cattle (feed) -2,917
7,100
2,647
3,933
Cattle (live) -73,179
344
-46,454
-47,560
Hogs -38,039
836
-5,574
-2,517
Corn -373,558
119,389
-335,732
-315,890
Oats -5,208
829
-3,591
-3,781
Soybeans -179,666
56,797
-172,362
-166,778
Soybean meal -90,487
-6,350
-64,889
-58,659
Soybean oil -111,786
32,394
-69,326
-68,825
Wheat -16,413
82,654
43,438
31,005
Orange juice -22,027
-6,588
-13,666
-14,834
Coffee -47,729
-4,637
-35,214
-37,049
Cocoa -49,897
8,586
-1,662
-1,403
Sugar -241,259
-104,983
-173,856
-173,658
Cotton -69,857
-12,970
-48,338
-46,678
British pound -31,274
97,211
6,929
-12,711
Canada dollar -105,107
-13,109
-41,661
-42,686
Euro FX -62,835
124,494
1,998
-956
Japanese yen -52,533
92,866
-24,065
-23,259
Swiss franc -33,169
27,482
-13,396
-13,401
US dollar index -46,250
2,587
-12,874
-14,140
Mexican Peso -118,008
-14,488
-83,084
-91,873
Australian dollar -102,706
-10,793
-41,514
-43,376
S&P 500 -83,827
33,981
-75,459
-74,826
T-note -10 yr -74,761
356,573
84,175
14,837
T-bond -30 yr -43,324
158,206
16,188
22,188
Eurodollar -1,179,414
105,872
-75,002
-392,938
Crude oil -198,943
-23,057
-172,595
-165,622
Heating oil -69,179
7,568
-43,681
-38,615
Unleaded gas -91,597
-10,453
-80,757
-75,183
Natural gas 110,310
179,433
131,956
127,606
Copper -34,883
1,793
-23,909
-25,426
Gold -303,791
-207,691
-270,469
-263,893
Platinum -32,628
-15,759
-25,454
-25,297
Silver -65,413
-37,800
-49,770
-46,853

Proceed to Page 3 for this week's detailed fundementals charts...

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