Banks and their fund, CTA clients took opposing views on gold futures

12th August, 2025

Luke Jeffs
Chicago

The largest US banks and their hedge fund and commodity trading advisors (CTA) clients took opposing positions on gold futures last week, with the banks going short and the funds going long ahead of frenetic trading after a report emerged of tariffs on US gold imports.

Unlock this article with 1 month’s free and instant access to FOW Intelligence

Go beyond this article with 1 month’s free, no obligation access to FOW Intelligence — bringing you expert insights and analysis backed by our comprehensive volumes database. Everything you need to stay informed and make smarter decisions.

  1. • Actionable insights across global futures and options markets
  2. • Exclusive content, including breaking stories and interviews with market leaders
  3. • Daily newsletter delivering the day’s top stories straight to your inbox
  4. • Expert analysis to support smarter trading decisions
  5. • Extensive daily volumes database to monitor activity
  6. • Trusted by financial professionals for 40+ years
ABN AMRO
Bank of America
CBOE
Citi
Goldman Sachs
DRW Holdings
HSBC
J.P Morgan
Marex
Morgan Stanley
SGX
SocGen
Susquehanna
MUFG Investor Services
TP ICAP
ABN AMRO
Bank of America
CBOE
Citi
Goldman Sachs
DRW Holdings
HSBC
J.P Morgan
Marex
Morgan Stanley
SGX
SocGen
Susquehanna
MUFG Investor Services
TP ICAP
Already have an account?