Hedge funds slash bullish wagers on gold before war jitters

Money managers’ bullish wagers on gold fell to the lowest in nearly four months before a flare-up in the Russia-Ukraine war boosted its haven appeal. Hedge funds and other large speculators reduced net-long positions by 3.6% to 190,324 contracts as of Nov.

19, the lowest in 15 weeks, weekly US government data showed on Friday. The precious metal was under pressure in the weeks following the re-election of Donald Trump as the US dollar surged, weighing on commodities. Gold has since recouped those losses amid rising geopolitical tensions.



(By Yvonne Yue Li).