June 29, 2012 / 7:42 PM / 7 years ago

Specs slash gold, silver longs, up copper shorts

June 29 (Reuters) - Money managers sharply cut their net long position in
gold futures and options, data from the Commodity Futures Trading Commission
(CFTC) showed, as a lack of fresh monetary stimulus by the U.S. Federal Reserve
prompted some bullion investors to lessen their bullish bets.
    They slashed their net longs in gold by 20,485 to 84,161 lots in the week
ended June 26. The group also cut their net longs in silver by 4,603 to just
2,888 contracts, while it boosted its net short position in copper by 1,873 to
13,770 contracts.
    
 Selected categories from the CFTC weekly Commitment of Traders report:
                                                                        
 FUTURES + OPTS    Managed             Swaps          Producer        
                       Net     Chg       Net     Chg       Net     Chg
 Gold               84,161 -20,485    -1,563   17739  -137,972   9,515
 Silver              2,888  -4,602    18,394    2569   -32,008   4,303
 Copper            -13,770  -1,873    41,263   -1734   -14,205   4,939
 
                     Other         NonReport              Open        
                       Net     Chg       Net     Chg  Interest     Chg
 Gold               31,595  -1,770    23,779  -4,999   656,194 -45,668
 Silver              5,012    -480     5,715  -1,788   162,526  -5,117
 Copper             -3,075    -690   -10,213    -642   146,469   1,520
 =====================================================================
 
 
 FUTURES ONLY      Managed             Swaps          Producer        
                       Net     Chg       Net     Chg       Net     Chg
 Gold               77,495 -15,656      -288  10,937  -143,872   8,594
 Silver              2,414  -3,663    19,681   1,788   -31,692   3,155
 Copper            -13,769  -1,872    41,263  -1,734   -14,205   4,879
 
                     Other         NonReport              Open        
                       Net     Chg       Net     Chg  Interest     Chg
 Gold               45,124   1,871    21,541   -5746   413,618  -4,874
 Silver              3,808    -217     5,789   -1063   126,164   3,656
 Copper             -3,075    -690   -10,214    -583   146,442   1,597
 =====================================================================
                                                                        
                        FUTURES + OPTS         FUTURES ONLY
 Gold                                                      
 Silver                                                    
 Copper                                                    
                                                                        
 Additional CFTC data can be found at          or             
 or the CFTC website at
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