Reuters reported that hedge funds and money managers sharply cut their bullish bets on gold futures last week on profit taking while an improving US economic outlook prompted them to switch copper contracts to its first net long in 4 weeks.
The Commodity Futures Trading Commission's Commitments of Traders showed that speculators also slashed their silver longs in the week to December 4th 2012.
Source:
http://www.steelguru.com/metals_news/Specs_sharply_cut_gold_longs_move_to_copper_longs_CFTC/294912.html
