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Gold Bulls Weakest in Two Months as Economy Gains: Commodities

Gold traders are the least bullish in two months after prices erased more than half of this year’s gain on speculation that a strengthening U.S. economy will dissuade the Federal Reserve from buying more debt.

Thirteen of 26 analysts surveyed by Bloomberg expect prices to gain next week and four were neutral, the lowest proportion since Jan. 20. Hedge funds cut bets on a rally by the most since August 2008 in the week ended March 6, Commodity Futures Trading Commission data show. Prices fell to an eight-week low March 14, 15 percent below September’s record, and are now below the 200-day moving average, a sign of more declines to some investors.