Hedge funds sharply reduced bullish bets on gold, cutting positioning to the lowest level in nearly four months after the metal suffered its steepest weekly decline in more than a decade, according to a report by Bloomberg.
Money managers and other large speculators slashed net-long positions by 23% to 93,438 contracts in the week ended 3 February, according to US government data. That marked the weakest level of bullish positioning since October.
The pullback followed a sudden reversal in preci...
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