The trading losses stem largely from legacy positions Merrill Lynch took in previous years.

交易损失主要源于美林之前几年留下的头寸。

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Legacy positions like Coca-Cola never get sold.

FORBES

Non-commercial traders in the legacy report for gold also hiked positions on both sides, but added many more gross longs than shorts.

FORBES: FOCUS: Speculators Increase Exposure To Precious Metals -- CFTC

Speculators added to their net-long gold position in the disaggregated commitment of traders report released by the Commodity Futures Trading Commission, but cut positions slightly in the legacy report.

FORBES: FOCUS: Mixed Speculative Activity Seen In CFTC Data Following Metals Price Break