Gold futures see $19.5 billion (about 26 trillion won) in selling over five weeks; 95% from “Other” and unreported po

Gold futures selling has intensified, with Goldman Sachs estimating $19.5 billion (roughly 26 trillion won) in net selling of gold futures over five consecutive weeks through October 27, based on CFTC positioning data. The December gold contract closed at $3,898.90 per troy ounce on October 30, down 3.3% and falling below the $4,000 level. In the week of October 20-27 alone, net selling reached $8 billion, with 95% of the flow attributed to "Other Reportables" and non-reportable positions. Notably, gold fell 1.6% during that week even as US 10-year real yields declined 11 basis points, suggesting the selling was position-driven rather than rate-driven. The divergence between falling real yields and declining gold prices points to speculative positioning as the key driver, and traders will watch whether the five-week selling streak extends or reverses in upcoming CFTC data.