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Hedge Funds Push Gold Bullish Bets To Record Level

Posted on 29 June 2016

Hedge funds and money managers were buying gold as prices were dropping, ahead of the British referendum on the future of its EU membership, according to the latest trade data from the Commodity Futures Trading Commission. Friday’s report showed that gold’s speculative net length reached historic highs last week.
The disaggregated Commitments of Trader report (COT), for the week ending June 21, showed money managers increased their speculative gross long positions in Comex gold futures by 17,436,contracts to 274,936. At the same time, short bets fell by 3,732 contracts to 24,528. The latest data shows the gold market is net long by 250,408 contracts………………………………………..Full Article: Source


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