The gold position flipped to a net-long for the first time in five months. This came after funds cut longs by 8k lots and short positions by 20k lots. In the two weeks to November 11 funds bought 62k lots, mostly above $1,230/oz. While funds have moved towards a more bullish stance ahead of 2019 any additional dollar related weakness as seen on Friday could pose a short-term challenge.
Silver, meanwhile, had its net-short reduced to just 9k lots, as speculators turned the least bearish since July.