What are hedge funds doing in gold and silver?
The CFTC Commitments of Traders report shows how large traders are positioned in gold and silver futures. Makro reads the weekly report and shows whether managed money, the hedge-fund group, is net long or net short, and how that changed from the prior week. Commercial hedgers are shown separately because they often sit on the other side of the hedge funds.
Why the COT report is a weekly clue, not a price
The report is published once a week, usually reflecting positions as of Tuesday. It does not update with the live gold rate. A rising price with funds already extremely net long is a different setup from a rising price where funds are still adding.
Makro is a decoder for that table. It does not replace the CFTC file. Use it next to the live price, not instead of it.
Questions
What is managed money in the COT report?
Managed money is the CFTC category for hedge funds and other money managers trading futures. Net long means their long contracts exceed their shorts. Net short means the opposite.
How often does Big Players update?
When the CFTC publishes a new COT report, which is weekly. Makro checks daily so a new file is picked up without you watching the CFTC site.
Does a net long position mean gold will rise?
No. A crowded net long can mean funds already bought, so further upside needs new buyers. The page shows the position and the weekly change. It does not promise a direction.