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Gold Open Interest Rises to Five-Year High as Bullish Bets Soar

  • Market already ‘crowded’ with bullish traders: Optionsellers
  • Money managers boosted net-long gold positions to record
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Does the Rally in Silver Have Legs?

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Gold holdings rose to the most in more than five years as investors pile into the metal amid turmoil in financial markets and concern over global economic growth.

Open interest, a tally of outstanding contracts in gold futures on the Comex in New York, climbed to the highest on Friday since November 2010. In the week ended June 28, money managers boosted their net-long positions on the precious metal to the highest since data begins in 2006, U.S. Commodity Futures Trading Commission data show.