Net Managed Money positions in Comex #gold futures increased again last week, although positions remain modest compared to highs seen in 2016 and 2019.

Comex #gold futures volumes are near the high of the year, but I suspect a lot of this is the roll, which progresses smoothly and at a low cost (compared to the highs seen last year).

It will be interesting to see how many Comex #gold longs stand for delivery (the first notice day for the June future is on Friday and there is still quite a lot of open interest at 179k lots).

But there is plenty of #gold stock available in New York to fulfill any delivery requests, I believe.

Read more on Twitter: @JReade_WGC