Dino's Bar & Grill Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Dino's Bar & Grill

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Goose94 who wrote (12556)	4/15/2015 7:45:58 AM
From: Goose94	Read Replies (1) of 203567

Hedge Funds/Managed Money Double Bullish Gold Price Bets Large scale speculators in gold futures continue to add to bets on a rising price even as the metal struggles to hold onto the $1,200 an ounce level. On Monday gold for delivery in June – the most active futures contract – drifted lower from Friday's closing price hitting a low of $1,196.35 during late morning trade in New York. Gold has recovered 4% from its 2015 low of $1,148.20 an ounce hit mid-March but has not been able to break through $1,220 an ounce resistance, stymied by a strong dollar. The greenback was trending higher on Monday with the US dollar index again jumping the 100-level against major world currencies. The dollar is up more than 25% in value over the past year and is trading near 12-year highs. After eight straight weeks of increasingly bearish positioning on the gold market to levels last seen December 2013, large investors like hedge funds or so-called "managed money" have now doubled their bullish positions within the space of two weeks. In the week to April 7 according to the Commodity Futures Trading Commission's weekly Commitment of Traders data, hedge funds slashed short positions and at the same time added to long positions in gold. That resulted in a 43% increase in their net long positions – bets that price will rise – for the week and a similar rise as the week before. Hedge funds are now long 6.5 million ounces compared to 3.1 million ounces mid-March.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next