LATEST NEWS : Gold Wagers Gain as China Rate Reduction Stems Rout

Hedge funds added bullish gold wagers at the fastest pace since June as central bank action from China to Japan and Europehelped stem the rout in prices.

The net-long position in New York futures and options expanded 56 percent, U.S. government data show. Short holdings fell to a two-month low and long wagers climbed for the first time in four weeks.

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