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Hedge funds cut bets to six-month low before rally: Commodities

Posted on 14 January 2013

Hedge funds cut bullish commodity wagers to the lowest since June before prices rallied to a two- month high on signs of a rebound in Chinese economic growth.
Speculators trimmed net-long positions across 18 futures and options by 5.4 percent to 654,443 contracts in the week ended Jan. 8, the lowest since June 19, U.S. Commodity Futures Trading Commission data show. Wagers on a corn rally dropped for a fifth week before a reduction in U.S. stockpile data sparked the biggest jump in prices in five months. Gold holdings fell to the lowest since August as the metal snapped a six-week slump………………………………………..Full Article: Source


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