Specs bail out of copper longs, cut gold and silver-CFTC

Fri Apr 13, 2012 3:48pm EDT

April 13 (Reuters) - Money managers in copper futures and options sharply
reduced their net long positions in week ended April 10, as macro-economic
concerns pressured futures prices in New York and London to their cheapest
levels in three-month lows.	
    Speculators cut their bullish copper bets by 15,687 contract to 2,955
contracts, the lowest level since the week of September 18, 2011, when they were
long 300 lots. They also cut their length in silver by 3,933 contracts to 14,905
contracts and gold by 8,674 contracts to 109,511, data from the Commodity
Futures Trading Commission (CFTC) showed on Friday.	
	
 Selected categories from the CFTC weekly Commitment of Traders report:                                                                                 
                                                                                                                                                        
 FUTURES + OPTS    Managed             Swaps          Producer                                                                                          
                       Net     Chg       Net     Chg       Net     Chg                                                                                  
 Gold              109,511  -8,674   -41,038   -1030  -139,102   8,120                                                                                  
 Silver             14,905  -3,934     9,704    3555   -40,157   1,585                                                                                  
 Copper              2,955 -15,687    39,143    1960   -37,112   7,050                                                                                  
                                                                                                                                                        
                                                                                                                                                     
                                                                                                                                                     
                                                                                                                                                     
                     Other         NonReport              Open                                                                                          
                       Net     Chg       Net     Chg  Interest     Chg                                                                                  
 Gold               34,188   2,774    36,442  -1,190   640,791  17,619                                                                                  
 Silver              6,454   1,939     9,093  -3,148   153,142  -1,634                                                                                  
 Copper             -2,580   6,663    -2,405      15   148,631  -8,154                                                                                  
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 FUTURES ONLY      Managed             Swaps          Producer                                                                                          
                       Net     Chg       Net     Chg       Net     Chg                                                                                  
 Gold              104,230  -8,810   -28,520  -1,379  -142,529   7,794                                                                                  
 Silver             13,642  -3,671    12,872   3,232   -39,258   1,718                                                                                  
 Copper              2,955 -15,687    39,143   1,960   -37,059   7,101                                                                                  
                                                                                                                                                        
                                                                                                                                                     
                                                                                                                                                     
                                                                                                                                                     
                     Other         NonReport              Open                                                                                          
                       Net     Chg       Net     Chg  Interest     Chg                                                                                  
 Gold               32,423   3,698    34,396   -1303   403,989  -3,772                                                                                  
 Silver              4,544   1,802     8,200   -3081   114,469  -1,965                                                                                  
 Copper             -2,536   6,577    -2,503      49   148,468  -8,101                                                                                  
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                        FUTURES + OPTS         FUTURES ONLY                                                                                             
 Gold                                                                                                                                                   
 Silver                                                                                                                                                 
 Copper                                                                                                                                                 
                                                                                                                                                        
 Additional CFTC data can be found at          or                                                                                                       
 or the CFTC website at