From Reuters:
Hedge funds plowed into gold and crude oil as prices rallied this week, driving the bullish money wagered by commodity speculators to the highest level since 2011, data showed on Friday.
Gasoline, natural gas and soybeans were other commodities that attracted huge buying during the week that ended Feb. 18, according to the data from the Commodity Futures Trading Commission.
The net-long or bullish money held by hedge funds and other speculators across 22 U.S. commodity markets rose to $119.5 billion in the Feb. 18 week from $102 billion during the week to Feb. 11, Reuters calculations of the CFTC data showed.
That was the highest in bullish commodity wagers held by such money managers since at least August 2011, according to a Reuters database of the CFTC data.
They like what they see in a slowing US economy but as the weather clears activity should snap back…
