Hedge funds raise bullish gold bets; analysts see rally faltering
[NEW YORK] Hedge funds raised bullish gold wagers to a three-month high as signs of slowing US economic growth spurred demand for haven assets. Billionaire John Paulson maintained his bullion holdings last quarter.
The net-long position climbed 17 per cent to 69,291 futures and options in the week ended Feb 11, US Commodity Futures Trading Commission data show. Long wagers rose 8.8 per cent, the most since March. Net-bullish holdings across 18 US-traded commodities rose 18 per cent to 1.07 million contracts, the highest since October 2012, led by silver and coffee.
Investors' return to bullion after the bear market in 2013 is driving prices to longest rally since 2011. US factory output unexpectedly fell in January and emerging market equities and currencies weakened. Mr Paulson, the biggest owner of the largest exchange-traded product, left his holdi…
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