Gold
Gold
Week of May 12, 2026
BEARISH
Smart money is net long and buying more.
2Y percentile: 13th — Well below average
Weekly change: +3,761 contracts
Weekly Changes
Producer/Merchant-1.1K
Managed Money+3.8K
Swap Dealer-10.2K
Other Reportable+4.6K
Positioning Percentile (2Y)
Producer/Merchant
91stExtremely high (historically rare)
050100
Managed Money
13thWell below average
050100
Swap Dealer
68thAbove average
050100
Other Reportable
29thBelow average
050100
Full Stats Table
| Trader Type | Net Position | Weekly Change | 2Y Percentile | 5Y Percentile |
|---|---|---|---|---|
| Producer/Merchant | -20.2K | -1.1K | 91st | 93rd |
| Managed Money | +98.0K | +3.8K | 13th | 49th |
| Swap Dealer | -190.1K | -10.2K | 68th | 35th |
| Other Reportable | +73.6K | +4.6K | 29th | 17th |
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.