FX.co ★ Gold Bulls Trim Positions as CFTC Speculative Net Longs Edge Lower

Speculative investors in gold futures marginally reduced their bullish exposure in the latest reporting period, according to data on CFTC Gold speculative net positions updated on 18 September 2026 in the United States. Net long positions eased to 230.3K contracts, down from 232.0K previously.

The modest pullback suggests a slight cooling in speculative optimism toward gold, though positioning remains elevated by historical standards. Market participants may be reassessing the balance between safe-haven demand and shifting expectations for interest rates and the broader macroeconomic outlook, with the small decline indicating adjustment rather than a wholesale reversal in sentiment.

Traders and investors will be watching upcoming U.S. economic data and central bank signals for clues on whether this dip in net longs marks the start of a broader repositioning in gold, or simply a brief consolidation after recent strength in speculative interest.