MCX - WEEKLY NEWS LETTERS
✍ GLOBAL UPDATE
SPDR Gold Trust GLD, the world's largest gold-backed exchangetraded fund, said its holdings stood at 980.34 tonnes, remain unchanged from previous business day.
Holdings of the largest silverbacked exchange-traded-fund (ETF), New York's iShares Silver Trust SLV, stood at 10911.57 tonnes, remain unchanged from previous business day.
China's copper imports slumped 14 percent to 360,000 tonnes in July from the previous month, customs data showed on Monday, as softer demand in the world's top consumer slowed down buying.
China imported 31.07 million tonnes of crude oil in July, up 1.5 percent from 30.62 million tonnes in the previous month, according to data from China's General Administration of Customs.
Data from the U.S. Commodity Futures Trading Commission (CFTC) showed money managers, including hedge funds and other speculators, cut their net long position on NYMEX's West Texas Intermediate (WTI) crude by 31,031 contracts to 80,302 in the week to Aug 2. That was the lowest net long position held in U.S. crude by money managers since the week ended Feb. 23. Managed money's bullish wagers on WTI have fallen by 175,230 contracts over an eightweek span. That is equivalent to more than 175 million barrels in actual supply, given NYMEX's position size of 1,000 barrels per contract.



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