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Gold Investors Bet on Resilient Rally as Open Interest Surges

  • ETF holdings backed by gold rise to highest since 2013
  • Net long positions in gold near highest since 2012, data show
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Does Gold Have More Room to Rally?

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Add a jump in open interest to signs that gold’s rally may persist after the best start to a year in a decade.

Open interest, a tally of outstanding contracts in Comex futures, rose 3.1 percent to 565,774 on Tuesday, the highest since January 2011. The same day, investors boosted holdings in exchange-traded funds backed by the metal for a sixth straight session to the highest since December 2013. The increases come after hedge funds boosted net-long positions in bullion futures and options more than five-fold since early February.