Gold bullish bets rise for the fourth consecutive week

FXStreet (Mumbai) - As per the commodity Futures Trading Commission (CFTC) data released on Friday, the speculators turned bullish on Gold for the fourth consecutive week taking the net long positions to the best level since august during the last week.

The data showed bullish positions increased by 13,549 contracts while the weekly bearish positions decreased by 9,020 contracts. Moreover, the net speculative positions in Gold increased by 22,569, its largest weekly gain since August 12th.

The data refer to the same time period of Oct 14th to Oct 21st, when Gold prices had rose from USD 1224/Oz to USD 1250/Oz.