Gold
Gold
Week of March 31, 2026
BEARISH
Smart money is net long and buying more.
2Y percentile: 4th — Extremely low (historically rare)
Weekly change: +1,193 contracts
Weekly Changes
Producer/Merchant+2.3K
Managed Money+1.2K
Swap Dealer-118
Other Reportable-6.3K
Positioning Percentile (2Y)
Producer/Merchant
96thExtremely high (historically rare)
050100
Managed Money
4thExtremely low (historically rare)
050100
Swap Dealer
79thWell above average
050100
Other Reportable
22ndWell below average
050100
Full Stats Table
| Trader Type | Net Position | Weekly Change | 2Y Percentile | 5Y Percentile |
|---|---|---|---|---|
| Producer/Merchant | -19.9K | +2.3K | 96th | 95th |
| Managed Money | +92.8K | +1.2K | 4th | 46th |
| Swap Dealer | -181.7K | -118 | 79th | 43rd |
| Other Reportable | +70.4K | -6.3K | 22nd | 11th |
About Gold Positioning
The ultimate store of value trade. Gold positioning reflects inflation expectations, real rate views, and central bank credibility. When managed money goes max long, the inflation/debasement trade is crowded. Producer hedging patterns reveal what the people who actually mine it think about future prices.