Bloomberg – Hedge funds reduced their bullish bet on a gold rally to the lowest level since July 2009 after the metal climbed for 10 straight years.
The funds and other large speculators held net-long positions, or wagers on rising prices, totaling 144,236 contracts in the week ended Jan. 11 on the Comex in New York, U.S. Commodity Futures Trading Commission data showed on Jan. 14. The holdings fell 9.1 percent from a week earlier following a 6.7 percent drop in the previous week.
