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Gold and silver frustrating bearish and bullish hedge funds
Solid support in gold and silver is frustrating some bearish hedge funds. Both precious metals saw some short-covering momentum last week, according to the latest trade data from the Commodity Futures Trading Commission. The CFTC's disaggregated Commitments of Traders report for the week ending Feb 20 showed money managers decreased their speculative gross long positions in Comex gold futures by 1,802 contracts to 98,840. At the same time, short positions fell by 17,549 contracts to 48,917 contracts. The short covering improved gold’s bullish position from last week’s two-month low. The market is now net long ... (full story)