Gold
Liquidation Riskmetals · Last COT: 2026-10-13
This page combines weekly CFTC Commitments of Traders positioning for Gold futures with seasonality, price context, and macro indicators. Percentiles show where the latest net position sits relative to its recent history; extremes can reveal crowded or washed-out positioning, but they are context rather than a standalone trade signal.
At a glance
A reading of the inputs, not a trade recommendation.
Net positioning
Managed Money net positioning is within its recent range (26th percentile).
Crowd risk
87.6% of Managed Money contracts are long, which raises exit-risk even if net positioning is not at a high percentile.
Price context
Price sits 15% through its 52-week range, without a flagged price-positioning divergence.
Seasonality and macro
Neutral seasonal bias for week 43. Macro is mixed.
Compare these inputs together. A low net-position percentile can coexist with high gross-long concentration, and price or macro can point in a different direction.
As of 2026-10-22 · -109.60 (-2.6%)
3982.20 — 5230.50
WoW: -3,898 (-3.5%)
WoW: +1,064 (+5.5%)
WoW: +932 (+0.4%)
Based on 52 observations
Based on 105 observations
Week 43 · 20y avg
20 years of data
Price Context
Price is in the lower half of its range (15%) with moderate-to-bearish positioning (26th percentile) — price and COT are directionally aligned. No divergence signal.
COT Baseline Price
As of 2026-10-12
+13.10 (+0.32%) WoW
52-Week Range
15%
Divergence
No DivergenceSeasonality
Macro Context
A falling dollar makes gold and silver cheaper for foreign buyers, supporting prices. A rising dollar is a headwind for precious metals.
Rising yields increase the opportunity cost of holding non-yielding metals like gold. Falling yields are bullish for precious metals.
Higher short-term rates signal tighter Fed policy, which historically pressures gold. Lower rates ease monetary conditions and support metals.
Elevated volatility drives safe-haven demand into gold and silver. Low VIX reflects complacency and reduces the urgency to hold precious metals.
Last 52 Weeks
CSV export includes up to five years of weekly observations.
| Date | MM Net | Producer Net | Swap Net | Open Interest | 52-wk %ile | 105-wk %ile | Z-Score | WoW Chg |
|---|---|---|---|---|---|---|---|---|
| 2026-10-13 | +107,089 | -18,437 | -224,094 | 396,345 | 46.2% | 25.7% | -0.79 | -3,898 (-3.5%) |
| 2026-10-06 | +110,987 | -19,501 | -225,026 | 396,109 | 50.0% | 29.5% | -0.70 | -9,331 (-7.8%) |
| 2026-09-29 | +120,318 | -21,263 | -229,704 | 406,456 | 63.5% | 36.2% | -0.48 | -7,071 (-5.6%) |
| 2026-09-22 | +127,389 | -26,777 | -236,126 | 412,800 | 75.0% | 46.7% | -0.33 | -5,727 (-4.3%) |
| 2026-09-15 | +133,116 | -28,061 | -233,660 | 409,899 | 80.8% | 53.3% | -0.22 | -1,856 (-1.4%) |
| 2026-09-08 | +134,972 | -30,961 | -239,313 | 411,227 | 82.7% | 55.2% | -0.19 | -1,799 (-1.3%) |
| 2026-09-01 | +136,771 | -31,289 | -233,429 | 415,196 | 84.6% | 57.1% | -0.17 | -7,976 (-5.5%) |
| 2026-08-25 | +144,747 | -34,558 | -245,027 | 427,957 | 90.4% | 62.9% | -0.02 | +3,099 (+2.2%) |
| 2026-08-18 | +141,648 | -29,761 | -228,657 | 406,260 | 88.5% | 60.0% | -0.10 | +3,986 (+2.9%) |
| 2026-08-11 | +137,662 | -27,935 | -224,705 | 400,309 | 88.5% | 59.0% | -0.20 | +6,896 (+5.3%) |
| 2026-08-04 | +130,766 | -18,856 | -207,635 | 371,551 | 76.9% | 50.5% | -0.35 | +10,971 (+9.2%) |
| 2026-07-28 | +119,795 | -20,549 | -191,760 | 384,603 | 59.6% | 34.3% | -0.59 | -5,036 (-4.0%) |
| 2026-07-21 | +124,831 | -19,321 | -193,878 | 383,368 | 69.2% | 41.9% | -0.50 | +4,052 (+3.4%) |
| 2026-07-14 | +120,779 | -19,149 | -195,639 | 383,689 | 63.5% | 36.2% | -0.60 | +4,618 (+4.0%) |
| 2026-07-07 | +116,161 | -20,986 | -201,296 | 371,776 | 55.8% | 32.4% | -0.70 | -3,930 (-3.3%) |
| 2026-06-30 | +120,091 | -17,046 | -204,024 | 369,541 | 57.7% | 33.3% | -0.64 | +4,696 (+4.1%) |
| 2026-06-23 | +115,395 | -9,336 | -196,068 | 352,167 | 53.8% | 31.4% | -0.74 | +1,674 (+1.5%) |
| 2026-06-16 | +113,721 | -17,047 | -190,516 | 339,330 | 51.9% | 30.5% | -0.79 | +7,858 (+7.4%) |
| 2026-06-09 | +105,863 | -19,300 | -181,736 | 332,709 | 44.2% | 23.8% | -0.97 | -6,316 (-5.6%) |
| 2026-06-02 | +112,179 | -20,154 | -186,191 | 326,052 | 48.1% | 28.6% | -0.86 | +14,733 (+15.1%) |
| 2026-05-26 | +97,446 | -19,510 | -166,256 | 353,489 | 26.9% | 13.3% | -1.18 | +3,906 (+4.2%) |
| 2026-05-19 | +93,540 | -17,914 | -173,715 | 379,325 | 17.3% | 8.6% | -1.28 | -4,475 (-4.6%) |
| 2026-05-12 | +98,015 | -20,202 | -190,056 | 376,496 | 26.9% | 13.3% | -1.21 | +3,761 (+4.0%) |
| 2026-05-05 | +94,254 | -19,112 | -179,823 | 367,932 | 17.3% | 8.6% | -1.31 | +4,502 (+5.0%) |
| 2026-04-28 | +89,752 | -20,192 | -174,621 | 369,530 | 1.9% | 1.0% | -1.43 | -3,224 (-3.5%) |
| 2026-04-21 | +92,976 | -20,418 | -182,522 | 365,842 | 13.5% | 6.7% | -1.40 | -2,165 (-2.3%) |
| 2026-04-14 | +95,141 | -18,530 | -182,552 | 362,274 | 13.5% | 6.7% | -1.38 | +5,109 (+5.7%) |
| 2026-04-07 | +90,032 | -19,296 | -174,455 | 354,877 | 1.9% | 1.0% | -1.52 | -2,782 (-3.0%) |
| 2026-03-31 | +92,814 | -19,910 | -181,730 | 361,409 | 9.6% | 4.8% | -1.49 | +1,193 (+1.3%) |
| 2026-03-24 | +91,621 | -22,216 | -181,612 | 403,925 | 1.9% | 1.0% | -1.55 | -10,422 (-10.2%) |
| 2026-03-17 | +102,043 | -17,834 | -180,814 | 411,388 | 21.2% | 10.5% | -1.35 | +3,644 (+3.7%) |
| 2026-03-10 | +98,399 | -19,696 | -183,280 | 413,956 | 15.4% | 7.6% | -1.45 | +482 (+0.5%) |
| 2026-03-03 | +97,917 | -20,791 | -179,792 | 409,789 | 11.5% | 5.7% | -1.48 | +1,943 (+2.0%) |
| 2026-02-24 | +95,974 | -19,818 | -180,988 | 420,182 | 9.6% | 5.7% | -1.50 | +81 (+0.1%) |
| 2026-02-17 | +95,893 | -21,398 | -175,384 | 407,078 | 7.7% | 5.7% | -1.48 | +3,871 (+4.2%) |
| 2026-02-10 | +92,022 | -18,445 | -179,293 | 404,391 | 1.9% | 3.8% | -1.52 | -50 (-0.1%) |
| 2026-02-03 | +92,072 | -24,634 | -183,144 | 409,694 | 1.9% | 4.8% | -1.52 | -26,087 (-22.1%) |
| 2026-01-27 | +118,159 | -40,589 | -207,696 | 488,463 | 25.0% | 17.1% | -0.94 | -19,285 (-14.0%) |
| 2026-01-20 | +137,444 | -42,289 | -247,400 | 528,004 | 63.5% | 38.1% | -0.50 | +2,699 (+2.0%) |
| 2026-01-13 | +134,745 | -51,165 | -245,941 | 527,455 | 55.8% | 35.2% | -0.55 | +11,532 (+9.4%) |
| 2026-01-06 | +123,213 | -50,542 | -221,493 | 488,116 | 28.8% | 21.9% | -0.78 | -2,827 (-2.2%) |
| 2025-12-30 | +126,040 | -54,481 | -220,765 | 481,866 | 38.5% | 26.7% | -0.73 | -10,230 (-7.5%) |
| 2025-12-23 | +136,270 | -51,284 | -232,242 | 492,103 | 51.9% | 35.2% | -0.51 | +3,674 (+2.8%) |
| 2025-12-16 | +132,596 | -44,249 | -230,109 | 471,093 | 48.1% | 33.3% | -0.59 | +9,048 (+7.3%) |
| 2025-12-09 | +123,548 | -49,393 | -213,186 | 432,569 | 28.8% | 22.9% | -0.78 | +3,224 (+2.7%) |
| 2025-12-02 | +120,324 | -48,707 | -206,641 | 418,490 | 25.0% | 21.0% | -0.85 | +11,015 (+10.1%) |
| 2025-11-25 | +109,309 | -46,692 | -194,711 | 432,946 | 21.2% | 18.1% | -1.09 | +11,104 (+11.3%) |
| 2025-11-18 | +98,205 | -58,897 | -186,688 | 471,953 | 3.8% | 7.6% | -1.33 | -5,625 (-5.4%) |
| 2025-11-10 | +103,830 | -48,886 | -171,654 | 837,169 | 9.6% | 12.4% | -1.21 | +3,285 (+3.3%) |
| 2025-11-04 | +100,545 | -59,451 | -177,091 | 450,399 | 3.8% | 8.6% | -1.28 | -3,614 (-3.5%) |
| 2025-10-28 | +104,159 | -58,194 | -178,833 | 457,122 | 7.7% | 11.4% | -1.20 | +11,932 (+12.9%) |
| 2025-10-21 | +92,227 | -57,778 | -152,339 | 472,421 | 1.9% | 7.6% | -1.45 | -16,083 (-14.8%) |
Who Is Holding
Weekly holder positioning stacked by net size in contracts
Each holder is merged to a net position, then stacked from the largest holder at the bottom to the smallest at the top.