(12/04) Specs raises net longs in gold, silver; cut copper

April 12, 2011

Speculators in gold and
silver futures and options increased their net long positions
in the week ended April 5 as both metals rallied to new highs,
while they cut their bullish bets in the copper market,
according to the latest report by the U.S. Commodity Futures
Trading Commission.
Copper net longs, however, dropped about a third to near
its lowest level since September as prices slipped 2 percent
during the same period.