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Hedge funds reduced bullish gold bets before rally: Commodities

Posted on 23 September 2013

Hedge funds cut bullish gold bets for a second week, reducing long contracts to the lowest since June, before prices rose the most in a month as the Federal Reserve unexpectedly decided not to taper stimulus.
The net-long position held by speculators fell 17 percent to 70,113 futures and options in the week ended Sept. 17, U.S. Commodity Futures Trading Commission data show. Long wagers fell 6.8 percent to 109,217, the fewest since June 25, and short bets rose 21 percent………………………………..Full Article: Source


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