Speculative net long positions in U.S. gold futures declined notably in the latest reporting period, signaling a cooling of bullish sentiment among traders. According to data updated on 06 February 2026, CFTC gold speculative net positions fell to 165.6K, down from the previous level of 205.4K.
The sharp reduction in net longs suggests that investors have scaled back expectations for further near-term gains in the gold price, potentially in response to shifting views on interest rates, inflation, or broader risk appetite. While gold remains a key safe-haven asset, the latest positioning data indicates a more cautious stance from speculative traders in the U.S. market.
