Bloomberg – Hedge funds boosted their bullish bets on gold to the highest since December, when the precious metal was headed to a record price, as tensions in the Middle East spurred investor demand for a haven.
Managed-money funds held net-long positions, or wagers on rising prices, totaling 182,739 futures and options contracts on the Comex as of Feb. 22, up 14 percent from a week earlier, U.S. Commodity Futures Trading Commission data showed last week. Holdings rose for a third straight week and are the highest since Dec. 7, the day gold reached a record $1,432.50 an ounce.
