Fund managers' short bets on Comex-traded gold futures and options surged 33% this week to more...

|By:, SA News Editor

Fund managers' short bets on Comex-traded gold futures and options surged 33% this week to more than 65K contracts, the most in weekly CFTC data going back to June 2006. Fund managers still held more bets that prices would rise than bets they would fall, though by the lowest margin in more than four years. Gold settled at $1,572.80 today, a seven-month low.