Hedge Funds Slash Bullish Silver Wagers to 23-Month Low

Money managers slashed their bullish silver wagers to the lowest in nearly two years in the run-up to the metal’s biggest plunge in decades.

Hedge funds and other large speculators reduced net-long positions by 36% to 7,294 contracts for the week ended Jan. 27. The level was the lowest in 23 months, US government data showed Friday. These investors also cut their bullish wagers on gold to an eight-week.