Gold Traders Loaded Up On Net Long Positions In Gold, Silver Speculators Unloaded Long Positions

May 29, 2011 - PRLog -- Even though COMEX net longs in gold showed the first improvement in 5 weeks, these in silver and copper continued to become reduced. Cash managers elevated their bullish bets in COMEX gold futures and choices for the first time in 5 weeks as costs regained traction over the $1,500 per ounce level, U.S. regulator information showed on Friday.

Investors in silver and copper futures and choices continued to slash their internet duration within the week ended Might 24, as mounting macro-economic issues undermined investment within the two industrial metals, based on the newest report through the Commodity Futures Trading Commission. Visit http://silver-dollar-values.com for more profitable silver and gold tips.

Managed cash in COMEX gold held a net long placement of 198,515 lots within the time period, including 13,129 lots or 7 %, information through the CFTC showed. It had been the first time the group additional net duration because the week ended April 24.

Last week, costs of spot gold rallied as a lot as 3.8 % from a May 17 trough at $1,471.fifty an ounce. The recovery boosted the metal to inside 3 % of its life span substantial close to $1,575 an ounce in early May. Visit http://silver-dollar-values.net for more profitable silver and gold tips.

Traders also reduced their net duration in silver futures and options by 1,521 contracts or 9 % to 15,226 lots throughout the week, plus they also reduced their copper duration by 1,045 contracts or 28 % to 2,700 contracts. I am nonetheless bullish on silver and anticipate it to achieve $50 quickly. Gold ought to break $2000 prior to the finish of 2011. Now is a great time to invest in gold and silver while the prices are still affordable and inexpensive. Visit http://silver-dollar-values.com for more profitable silver and gold tips.

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