[miningmx.com] – Hedge funds and other investment managers tracked by the Commodity Futures Trading Commission (CFTC) increased their bets on lower Comex-traded gold futures and options by 33%, to 65617 contracts, during the week ended Tuesday. That is the most in weekly CFTC data going back to June 2006.
The decline has been attributed to improved investor sentiment in the US and speculation that the Federal Reserve will seek to rein in monetary policy.
However according to Dow Jones data, money managers still held more bets that prices would rise than bets they would fall, though by the lowest margin in more than four years.
Spot gold is trading at $1591 on Monday, up $19 or 1.2%.
