Hedge funds and money managers raised their net long position in COMEX gold contracts for the first time in nine weeks, in the week to Jan. 10, US Commodity Futures Trading Commission (CFTC) data showed on Friday.
The speculators lifted their net long position in silver futures and options to the highest since mid-November, while they raised it in copper for the first time in four weeks, the data showed.
In gold, they added 19,839 contracts to their net long position, lifting it to 54,399 contracts, a four-week high, CFTC data showed.
The bullish move came as prices climbed steadily to a six-week high, supported by a weak US dollar and jitters earlier in the week ahead of a news conference by US President-elect Donald Trump.
They increased their net long position in silver to 46,169 lots, up 4,170 lots.
The hedge funds and money managers raised their net long position in copper by 3,319 lots to 73,866 lots as prices rose to a one-month high, with inflation figures in top consumer China pointing to further signs of economic recovery.
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