Gold Desk: speculative positioning turns less bullish — 7 September 2026

Published:

The CFTC's disaggregated futures report for 1 September shows managed money holding 149,721 long gold contracts against 12,950 short. Against 25 August, managed-money longs fell by 2,122 contracts while shorts rose by 11,013, and total open interest fell by 12,761 to 415,196. Positioning is a measure of speculative exposure in futures, not of demand for the metal itself. Separately, the iShares Gold Trust reported 14,814,352.14 ounces — 460.78 tonnes — in trust as of 4 September, against 788,000,000 shares outstanding; the page reports a level, not a day's flow.

Instruments mentioned: XAU

Sources

  1. The CFTC report covers COMEX gold futures positions as of September 1, 2026

    Source: U.S. Commodity Futures Trading Commission — Commitments of Traders, Long Report, Other (Combined) · As of:

  2. Total open interest was 415,196 contracts; managed money held 149,721 long contracts and 12,950 short contracts

    Source: U.S. Commodity Futures Trading Commission — Commitments of Traders, Long Report, Other (Combined) · As of:

  3. From August 25, managed-money long positions decreased by 2,122 contracts and total open interest decreased by 12,761 contracts

    Source: U.S. Commodity Futures Trading Commission — Commitments of Traders, Long Report, Other (Combined) · As of:

  4. Managed-money short positions increased by 11,013 contracts from August 25 to September 1

    Source: U.S. Commodity Futures Trading Commission — Commitments of Traders, Long Report, Other (Combined) · As of:

  5. The iShares Gold Trust reported 14,814,352.14 ounces in trust as of September 4, 2026

    Source: iShares Gold Trust (IAU) — fund page · As of:

  6. The iShares Gold Trust reported 460.78 tonnes in trust as of September 4, 2026

    Source: iShares Gold Trust (IAU) — fund page · As of:

  7. The trust reported 788,000,000 shares outstanding as of September 4, 2026

    Source: iShares Gold Trust (IAU) — fund page · As of:

  8. iShares says the page's tonnes and ounces figures are based on trade-date activity and may vary slightly from the bar list

    Source: iShares Gold Trust (IAU) — fund page · As of:

This content was produced with AI assistance.