Gold continues to defy the skeptics, with hedge funds' net long positions climbing by 25% to their highest level in 14 months

Gold continues to defy the skeptics, with hedge funds' net long positions climbing by 25% to their highest level in 14 months. Hedge funds have raised bullish gold wagers amid mounting concern that the U.S. economic recovery is weakening. Bloomberg reports that the net-long position climbed 25 percent to 113,911 futures and options during the week ended Feb. 25, the highest since December 2012, according to U.S. Commodity Futures Trading Commission data. And it's not just gold - net-bullish holdings across 18 U.S.-traded commodities advanced 16 percent to 1.45 million contracts, the most since April 2011.


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Gavin Wendt
Founding Director
MineLife

Gavin has been a senior resources analyst following the mining and energy sectors for the past 25 years, working with Intersuisse and Fat Prophets. He is also the Executive Director, Mining & Metals with Independent Investment Research (IIR).

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