Futures positioning across metals and energy continues to shift as volatility reshapes trader behaviour. Gold and silver have seen sustained long liquidation, copper positioning has cooled without panic, and WTI crude oil stands out as net-long exposure quietly builds. With no clear sentiment extremes across most markets, traders appear more inclined to reduce exposure and wait for volatility to settle rather than aggressively fade existing trends. Gross long exposure to gold futures continued to decline sharply last week. Large speculators cut 37.6k contracts (-14.9%), while managed funds reduced longs by 24.4k ... (full story)