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10 Nov 2014
Net long Gold positions fell 36%
FXStreet (Mumbai) - Amid the slide in Gold prices, hedge funds made their biggest cut in bullish bets on Gold. As per Us government data, the net-long position in New York futures and options contracted 36%.
As per Commodity Futures Trading Commission data, the net-long position in gold fell by 25,226 contracts to 45,072 futures and options in the week ended Nov. 4. Meanwhile, Long holdings tumbled 12 percent, the biggest drop since December 2012.
Moreover, the fall in bullish bets is accompanied by a drop in the SPDR Gold Trust, the biggest bullion ETF, which fell 1.9% last week. However, it is widely believed that purchases from Asia will support Gold.
As per Commodity Futures Trading Commission data, the net-long position in gold fell by 25,226 contracts to 45,072 futures and options in the week ended Nov. 4. Meanwhile, Long holdings tumbled 12 percent, the biggest drop since December 2012.
Moreover, the fall in bullish bets is accompanied by a drop in the SPDR Gold Trust, the biggest bullion ETF, which fell 1.9% last week. However, it is widely believed that purchases from Asia will support Gold.