Wednesday, 20 August 2014
Last updated 12 hours ago
Aug 13 2013 | 9:49am ET
Hedge funds cut their commodity investments, turning particularly bearish on gold, according to a report from the Commodity Futures Trading Commission.
Hedge funds and other money managers slashed their net-long positions in gold by 27% in the week ended Aug. 6, the largest drop since June. Simultaneously, they boosted short bets against the precious metal by 26%.
But it wasn't only gold: A basket of 18 raw materials saw net-bullish bets drop 19% to their lowest level since March. Long bets on crude oil fell 2.5%, and holdings on 11 agricultural contracts swung from 57,552 net long to 9,713 net short on the week, with bullish soybean bets at their lowest level in more than a year, and hedge funds betting against coffee, soybean oil, sugar and wheat.
Investors gave a vote of confidence of a sort to copper, however, cutting their short bets by more than half.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note