Gold is out of favor with money managers and it’s not the only precious metal facing investor exodus. Hedge funds and other large speculators are hitting the exit as they brace for monetary tightening in the U.S. and Western Europe. Money managers are not waiting around for signs that the Federal Reserve may change its rate trajectory, as they turn bearish on precious metals. These charts show the trend in sentiment. In the week ended July 11, the net-long position in gold fell to the lowest in 17 months, before the metal posted its first weekly gain in six weeks....
A month ago, money managers were the most optimistic on gold this year. Now, they can’t seem to unload bullion fast enough. Hedge funds’ net-long positions, or the difference between bets on a price increase and wagers on a decline, fell last week by more than half, the biggest reduction since 2015. Exchange-traded products backed by precious metals saw cash outflows over the past month, while most other commodity funds took in more investor money. Total assets in SPDR Gold Shares, the world’s top bullion ETF, fell to the lowest since March last week. Even with signs of escalating geopolitical tensions...
Birch Gold Group, the leading precious metals IRA investment company in the country, experienced an unexpected growth in recent months. This welcome event compelled the company to expand its office space in order to accommodate its growing number of clients. Burbank, CA (PRWEB) March 09, 2017 Over the last several months, Birch Gold Group experienced […]The postBirch Gold Group Expands Due to Unexpected Growthappeared first onPress Release Rocket.
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A surge in gold and upbeat prices of industrial metals, along with prospects for yet more monetary stimulus from leading central banks, have prompted some heart-stopping moves.