Reuters: Regulatory News: Specs bail out of copper longs, cut gold and silver-CFTC

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Specs bail out of copper longs, cut gold and silver-CFTC Apr 13th 2012, 19:48 Fri Apr 13, 2012 3:48pm EDT April 13 (Reuters) - Money managers in copper futures and options sharply reduced their net long positions in week ended April 10, as macro-economic concerns pressured futures prices in New York and London to their cheapest levels in three-month lows. Speculators cut their bullish copper bets by 15,687 contract to 2,955 contracts, the lowest level since the week of September 18, 2011, when they were long 300 lots. They also cut their length in silver by 3,933 contracts to 14,905 contracts and gold by 8,674 contracts to 109,511, data from the Commodity Futures Trading Commission (CFTC) showed on Friday. Selected categories from the CFTC weekly Commitment of Traders report: FUTURES + OPTS Managed Swaps Producer Net Chg Net Chg Net Chg Gold 109,511 -8,674 -41,038 -1030 -139,102 8,120 Silver 14,905 -3,934 9,704 3555 -40,157 1,585 Copper 2,955 -15,687 39,143 1960 -37,112 7,050 Other NonReport Open Net Chg Net Chg Interest Chg Gold 34,188 2,774 36,442 -1,190 640,791 17,619 Silver 6,454 1,939 9,093 -3,148 153,142 -1,634 Copper -2,580 6,663 -2,405 15 148,631 -8,154 ===================================================================== FUTURES ONLY Managed Swaps Producer Net Chg Net Chg Net Chg Gold 104,230 -8,810 -28,520 -1,379 -142,529 7,794 Silver 13,642 -3,671 12,872 3,232 -39,258 1,718 Copper 2,955 -15,687 39,143 1,960 -37,059 7,101 Other NonReport Open Net Chg Net Chg Interest Chg Gold 32,423 3,698 34,396 -1303 403,989 -3,772 Silver 4,544 1,802 8,200 -3081 114,469 -1,965 Copper -2,536 6,577 -2,503 49 148,468 -8,101 ===================================================================== FUTURES + OPTS FUTURES ONLY Gold Silver Copper Additional CFTC data can be found at or or the CFTC website at Link this Share this Digg this Email Reprints

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