Bullish Wagers Drop to Six-Month Low on U.S. Budget: Commodities – Bloomberg 12-24-12

Salient to Investors:

Hedge funds et al lowered net-long positions in futures and options to the lowest since June 26, gold holdings dropped to the lowest since August, silver fell the most since July 24, and turned bearish on wheat for the first time in six months.

Simon Ringrose at EPFR Global said money managers last week withdrew the most money from commodity funds since July.

James Paulsen at Wells Capital Mgmt said the US economy will be resilient and support rising demand for commodities.

The World Bank raised its forecast for 2012 growth in East Asia to 7.5 percent.

Read the full article at http://www.bloomberg.com/news/2012-12-23/bullish-wagers-drop-to-six-month-low-on-u-s-budget-commodities.html.

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