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Hedge Funds Lured by Hottest Metal Boost Bullish Bets to Record

  • Money managers expand silver net-long position, CFTC data show
  • Precious metal gained 24% in 2016 on Fed, industrial demand
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Is Gold's Price Rally Ready for the Long Run?

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Hedge funds expanded their bullish bets on silver to an all-time high even as this year’s hottest metals rally began to fade.

Money managers added to their net-long positions in silver for the fourth time in five weeks, chasing the kind of returns that in the first three months of the year sent the precious metal to its biggest quarterly gain since 2012. The price surge is showing signs of fatigue, with futures posting two consecutive weekly declines and an almost 4 percent drop for May.