Hedge funds cut wagers on a gold rally for the first time in
three weeks on mounting speculation central banks will curb record stimulus and
as this year’s slump in bullion spurred losses for billionaire John Paulson.
The funds and other large speculators lowered their net-long
position by 4.1 percent to 54,779 futures and options by June 11, U.S.
Commodity Futures Trading Commission data show. Net-bullish wagers across 18
U.S.-traded commodities rose 0.1 percent. Bearish copper bets more than doubled
as the metal had its longest slump since November….
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