The net-long position contracted to the lowest since mid- February as speculators sold bullion on signs of accelerating U.S. economic growth. The investors more than doubled bets on lower prices in the past month
Hedge funds raised bullish gold wagers to the highest in eight weeks as signs of stronger Chinese demand drove prices to the longest rally since August. Goldman Sachs Group Inc. says the gains will be short-lived.
U.S. stocks fluctuated, after the Standard & Poor’s 500 Index fell from a record, as investors assessed corporate earnings and stimulus prospects. The dollar rose to a four-month high and European shares closed at a six- year best.