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Hedge Funds Raise Gold Wagers as Yamada Sees $1,000: Commodities

Hedge funds raised their bullish gold bets to a six-week high, splitting with analysts at Technical Research Advisors LLC and Goldman Sachs Group Inc. who are predicting more declines after last year’s rout.

The net-long position in gold jumped 19 percent to 34,104 futures and options in the week ended Dec. 31, U.S. Commodity Futures Trading Commission data show. Short holdings slid 4.6 percent to 72,571, the lowest since Nov. 19. Net-bullish holdings across 18 U.S.-traded commodities fell for the first time in six weeks as investors became the most bearish on sugar since September.