NEW YORK (Reuters) - Hedge funds and money managers raised their net long positions in COMEX gold and copper contracts in the week to Nov. 28, U.S. Commodity Futures Trading Commission (CFTC) data showed on Friday.
They also cut their net long positions in silver futures and options, the data showed.
Speculators raised their net long positions in gold by 27,138 contracts to 204,204 contracts in the week, CFTC data showed, the most since late September. In the week covered by the data, spot gold prices eased from a six-week high as the U.S. dollar edged up ahead of a confirmation hearing for U.S. Federal Reserve chair nominee Jerome Powell.
The dealers raised their net long positions in copper futures and options by 679 contracts to 81,751 contracts, according to CFTC.
Hedge funds and money managers cut their net long positions in silver by 7,915 contracts to 56,505 contracts in the same week, the CFTC report showed.
(Refiles to add “in silver” in last paragraph)
Reporting by Renita D. Young in New York; Editing by Marguerita Choy and David Gregorio