FX.co ★ Gold Bulls Trim Bets as CFTC Net Long Positions Edge Lower

Speculative interest in gold futures eased slightly in the latest reporting period, according to updated data from the U.S. Commodity Futures Trading Commission (CFTC) on 20 March 2026.

Net speculative positions in gold slipped to 159.9K contracts, down from 163.1K previously. The marginal decline suggests that while investor sentiment toward the precious metal remains broadly positive, some traders are scaling back bullish bets, potentially in response to shifting expectations around interest rates, inflation, or broader market risk appetite.

The modest pullback in net long positioning indicates a more cautious stance among speculators, but not a wholesale reversal. Markets will be watching subsequent CFTC reports closely for signs of whether this move marks the start of a more sustained repositioning in gold.