Hedge Funds Boost Bullish Gold Wagers to 16-Week High

Money managers increased their bullish wagers on gold to the highest since October as anxieties over Greenland prompted investors to rotate into hard assets away from currencies and sovereign bonds.

Hedge funds and other large speculators increased net-long positions by 1.9% to 139,162 contracts for the week ended Jan. 20. The level was the highest in 16 weeks, US government data showed Friday.