Reuters reported that hedge funds and money managers bought enough gold futures last week to acquire the largest overall bullish position in 7 months as rising risk appetite among investors and hopes of more bullion-friendly monetary stimulus boosted gold buying.

For a third week, speculators also boosted platinum net longs to the largest effective bullish bet since at least October 2007 when Reuters began tracking the Commodity Futures Trading Commission's Commitments of Traders data. Supply worries due to mine labor unrest in South Africa prompted speculators to buy.

Source - Reuters

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