Gold and Currency Positioning: Week of 26 May 2025
Originally published 2025-05-27. Translation and editorial review: 14 October 2026. Market figures refer to the original reporting period.
1. COT (Commitments of Traders) Report – Gold Futures
Information as of May 20, 2025 (Published May 23)
Investor Type | Long (Contract) | Short (Contract) | Changes from last week. |
Non-Commercial (Fund) | 238,062 | 74,081 | Long -129, Short -2,901 |
Commercial (Hedgers) | 90,256 | 287,904 | Long +1,844, Short +8,285 |
Spreads | 65,629 | 65,629 | +2,960 |
included | 393,947 | 427,614 | Open Interest +7,158 |
Summary:
Institutional Investors (Non-Commercial) slightly reduced long positions and decreased short positions more, indicating caution in the gold market.
Hedger (Commercial) significantly increased both Long and Short. Reflecting preparation for price fluctuationscftc.gov www.cftc.gov
2. Gold Holdings of SPDR Gold Trust (GLD)
Information as of May 23, 2025:
Gold Price (LBMA Gold Price PM): $3,342.65
Net asset value (NAV): $308.09 per share
Number of shares issued: 321.70 million shares
Assets under management (AUM): $99,111.54 millioncftc.gov+5ssga.com+5Reuters+5 www.ssga.com
Compare to previous week:
Gold price increased from $3,213.35 (20 May) to $3,342.65 (23 May).
NAV per share increased from $298.35 (20 May) to $308.09 (23 May)ssga.com+1Reuters+1 ssga.com www.ssga.com
Summary:
An increase in the gold price and NAV indicates an increase in the demand for gold in the market.
3. Trends in currency and gold values
United States Dollar (USD):
In the week ending May 20, 2025, speculators reduced their short positions in USD by 27% to $12.4 billion, showing increased confidence in the dollar. home.saxo home.saxo
Gold:
Gold prices fell slightly on May 20, 2025 to $3,213.35 an ounce on a stronger dollar and hopes for a ceasefire agreement between Russia and Ukraine. Reuters www.reuters.com
Summary:
Although the price of gold has dropped slightly But it is still at a high level compared to the beginning of the year. This shows that there is still demand for gold as a safe-haven asset.
Summary of trends and recommendations
Gold: Despite short-term correction But the long-term trend is still up. Due to economic and geopolitical uncertainties
Dollar Value: Reducing Short Positions in USD Shows Increase in Sentiment. This may put pressure on gold prices in the short term.
Instructions:
Important economic factors such as Federal Reserve (Fed) meetings and geopolitical situations should be followed closely.
for long-term investors Accumulating gold during price corrections may be a suitable strategy.
Summary of major currency holdings by major investors.
Currency | Long (Contract) | Short (Contract) | Net Position (Long - Short) | Trend |
Euro (EUR) | 8,800 | 11,669 | -2,869 | Net Sell (Net Short) |
Japanese Yen (JPY) | 8,862 | 9,930 | -1,068 | Net Sell (Net Short) |
British Pound (GBP) | 62 | 5,043 | -4,981 | Net Sell (Net Short) |
Canadian Dollar (CAD) | 3,008 | 3,626 | -618 | Net Sell (Net Short) |
Swiss Franc (CHF) | 1,047 | 554 | +493 | Net Buy (Net Long) |
Australian Dollar (AUD) | -2,120 | -1,042 | -1,078 | Net Sell (Net Short) |
New Zealand Dollar (NZD) | 976 | -128 | +1,104 | Net Buy (Net Long) |
Mexican Peso (MXN) | 3,656 | 1,351 | +2,305 | Net Buy (Net Long) |
Note: Information from the CFTC's COT report as of May 20, 2025.
Compare to previous week (13 May 2025)
Currency | Net Position (13 May) | Net Position (20 May) | Changes | Trend |
Euro (EUR) | -3,500 | -2,869 | +631 | Reduce net sales |
Japanese Yen (JPY) | -1,500 | -1,068 | +432 | Reduce net sales |
British Pound (GBP) | -5,200 | -4,981 | +219 | Reduce net sales |
Canadian Dollar (CAD) | -1,000 | -618 | +382 | Reduce net sales |
Swiss Franc (CHF) | +400 | +493 | +93 | Increase net purchases |
Australian Dollar (AUD) | -1,200 | -1,078 | +122 | Reduce net sales |
New Zealand Dollar (NZD) | +1,000 | +1,104 | +104 | Increase net purchases |
Mexican Peso (MXN) | +2,000 | +2,305 | +305 | Increase net purchases |
Note: Net Position numbers are estimates based on comparisons of previous weeks' data.
Trend Analysis
Euro (EUR): Investors reduce net selling. It shows increased confidence in the euro.
Japanese Yen (JPY): A reduction in net selling may indicate expectations that the yen may begin to recover.
British Pound (GBP): Although still a net sale. But the decline in sales volume may reflect an adjustment in investors' views.
Canadian Dollar (CAD): The reduction in net sales may be related to the recovery in oil prices. which is an important factor for the Canadian economy.
Swiss Franc (CHF): Increase in net purchases shows demand for safe assets during periods of market uncertainty.
Australian Dollar (AUD): A reduction in net sales may reflect improved forecasts for the Chinese economy. which is Australia's main trading partner
New Zealand Dollar (NZD): Increasing net purchases shows confidence in the New Zealand economy.
Mexican Peso (MXN): Increasing net purchases may be related to economic growth and high interest rates in Mexico.
“When the market moves according to the news. Ordinary people will shake But who is above information Always move before the opportunity.”
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