The Economic Times – Speculators boosted their wagers on higher commodity prices for the first time in five weeks as increasing confidence that the global economy will avoid another recession spurred the biggest rally of the year.
Money managers boosted combined net-long positions across 18 US futures and options by 0.2% to 656,691 contracts in the week ended October 11, Commodity Futures Trading Commission data show. The Standard & Poor’s GSCI Index of 24 commodities rose 5.2% last week, the most since December and enough to take the gauge out of the bear market it entered last month. Hedge funds had cut their bets by 49% in the last four weeks.
