Weekly COT report: Investors kept piling into gold
Matt Simpson February 27, 2022 9:10 PM
Gold remained the go-to hedge before Russia invaded Ukraine on February 24th, and there seems little reason for that trend to change in light of recent headlines.
Read our guide on how to interpret the weekly COT report
Net-long exposure to euro futures rose tot their most bullish level in over six months (32 week to be exact). However, price action is not currently justifying the bullish positioning having sunk to its lowest level since May 2020 on Friday. Furthermore, longs were trimmed over the past two weeks. Over the past 13-weeks short contracts have trended lower, so the rise in net-bullish exposure has been down to short-covering as opposed initiative bulls buying.
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