Bullish bets on Gold rise for third consecutive week

FXStreet (Mumbai) - As per the Commodity Futures Trading Commission (CFTC) released on Friday speculators raised their bullish bets on Gold for the third consecutive week.

The non-commercial futures contracts of Comex gold futures rose 8,048 contracts to a net position of 130,226 contracts during the reporting period through January 13. The bullish bets increased by 5254 contracts, while the bearish bets declined by 2794 contracts. Meanwhile, Gold prices advanced from USD 1219/Oz to USD 1234/Oz during the reporting period.