The notional outright value of overall net long speculative holdings rose to $77.6 billion.
The notional figures are calculated by Reuters based on the change in net positions from a week ago, multiplied by the contract's value at the end of the period. Because most investors trade commodities on margin, the change in the value of positions is not directly equivalent to total investment.
The total value of holdings is only a portion of the amount of investor capital estimated to be allocated to commodity markets worldwide, much of which is invested in over-the-counter contracts, physical exchange funds or credit notes, or via banks, which are classified differently by the CFTC.
Additional CFTC data can be found at or or the CFTC website at http://www.cftc.gov/marketreports/commitmentsoftraders/index.htm (Reporting By Jonathan Leff and Barani Krishnan)