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Funds cut bullish gold positions on Fed outlook

Posted on 12 November 2013

Hedge funds cut bullish gold bets, adding the most short contracts in four weeks, as U.S. economic growth fuels speculation the Federal Reserve will trim stimulus. Holdings across commodities dropped the most since April.
The net position in gold slid 13% to 87,689 futures and options in the week ended Nov. 5, U.S. Commodity Futures Trading Commission data show. Short bets jumped 37%, the most since Oct. 15, and long wagers fell 4.9%. Combined holdings across 18 U.S.-traded commodities dropped 20% to 658,263 contracts as investors cut cotton positions to the lowest this year and crude-oil bets to the fewest since June………………………………………..Full Article: Source


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