BUSINESS

Gold Prices Drive Hedge Funds' Commodity Bets To Biggest Gain In Nearly 4 Years

02/07/2011 05:12 am ET | Updated May 25, 2011

Dec. 8 (Bloomberg) -- Bets by hedge funds and large speculators on further gains in commodity prices are holding near their highest level in more than four years as gold and copper climb to records.

An index tracking speculative positions in 20 commodity futures in the U.S. stood at 1.42 million contracts as of Nov. 30, 7 percent below the 1.53 million contacts as of Oct. 5, which was the highest level since at least February 2006, according to Commodity Futures Trading Commission data on Dec. 3

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