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Hedge funds increased bets on a gold rally by the most in three weeks as central banks signaled no end to economic stimulus, driving prices higher just as analysts and traders turned the most bearish in three years. The funds and other large speculators raised their net-longposition by 19 percent to 54,762 futures and options as [...]
Hedge funds increased bets on gold rallying after prices plunged the most in 33 years, underscoring billionaire John Paulson’s view that bullion will rebound. Fund managers and other speculators increased net-longpositions in gold by 9.8 percent to 61,579 futures and options in the week ended April 16, U.S. Commodity Futures Trading Commission data show. Investors turned bullish on [...]
The SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, said its holdings fell 0.68 percent to 1,097.19 tonnes on Tuesday from 1,104.71 tonnes on Monday, the lowest level since October 2009. But premiums for gold bars soared to multi-year highs in Asia after a spate of physical buying ran down supplies, with dealers in [...]
Gold producers, ignored as global stocks rebounded in the past two years and investors turned to exchange-traded funds that track bullion, face closing mines or shutting themselves down after the metal’s worst slump in three decades this week made 15 percent of miners unprofitable. Barrick Gold Corp. (ABX) and Newmont Mining Corp., the world’s two largest [...]
ETFS pointed out that long term fundamentals of gold remain strong and ultimately should re-assert themselves once cyclical and technical factors move again in gold’s favour. The fragility of the US recovery, on-going Eurozone weakness and continued high sovereign debt risks are likely to keep central banks firmly in aggressive stimulus mode
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