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Hedge Funds Most Bullish on Gold Rally in 14 Months: Commodities

Hedge funds raised bullish gold wagers to the highest in more than 14 months amid mounting concern that the U.S. economic recovery is weakening.

The net-long position climbed 25 percent to 113,911 futures and options in the week ended Feb. 25, the highest since December 2012, U.S. Commodity Futures Trading Commission data show. Net-bullish holdings across 18 U.S.-traded commodities advanced 16 percent to 1.45 million contracts, the most since April 2011. Coffee wagers reached a 33-month high.