Law Recruiter Explains Why Older Attorneys Struggle to Join Firms
Law Recruiter Explains Why Older Attorneys Struggle to Join Firms
Zillow Merges with Trulia for $3.5 Billion
Zillow Merges with Trulia for $3.5 Billion
Wal-Mart Rejected by Delaware Supreme Court
Wal-Mart Rejected by Delaware Supreme Court
Massachusetts Hospital Takeover Agreement Opposed by Antitrust Experts
Massachusetts Hospital Takeover Agreement Opposed by Antitrust Experts
Job Listings

Hedge Funds Lowered Bullish Bets on Gold

facebooktwittergoogle_plusredditpinterestlinkedinmail

For a fourth week, Bloomberg News has reported that hedge funds have lowered bullish bets on gold in the longest streak this year. The net position in gold slid 13 percent to 87,689 futures and options in the week ended Nov. 5, U.S. Commodity Futures Trading Commission data show. Short bets jumped 37 percent, the most since Oct. 15, and long wagers fell 4.9 percent. Combined holdings across 18 U.S.-traded commodities dropped 20 percent to 658,263 contracts as investors cut cotton positions to the lowest this year and crude-oil bets to the fewest since June and gold has tumbled 24 percent this year, heading for the biggest drop since 1981.

Ed Morse of Citigroup Inc. said in an April 14 report that, Commodity prices have become again negatively correlated to equities, and investors should take “seriously” the role of raw materials as a diversifier for portfolios. Investors have more than doubled bets on lower prices in the past month.

A strategist at Standard Life in Edinburgh, which oversees $294 billion of assets, Frances Hudson, said that according to Bloomberg News, I see demand for gold remaining non-enthusiastic. Things are looking better in the U.S. and Europe. It’s not that both these economies are racing ahead, but they are gradually improving.” Hudson also reported that, “It is very difficult for gold to sustain the panic that makes it a good safe-haven trade.”

According to Global Market Financial review,  Barclays Plc and Credit Suisse AG are predicting lower commodity prices as supplies increase. There are signs, according to Bloomberg News,  of accelerating U.S. economic growth.

What

 job title, keywords

Where

 city, state, zip



Get JD Journal in Your Mail
Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!


A Kansas City-based national consultant for U.S. Bank Wealth Management, which oversees about $115 billion, Dan Heckman, said according to Bloomberg News that, “Besides drought conditions it’s also being helped by changes in lifestyle and in demographics. Some of the commodities have strong fundamentals backing them, but gold is not our favorite place.”

Image Credit: www.globalmacrodigest.com

Hedge Funds Lowered Bullish Bets on Gold by
facebooktwittergoogle_plusredditpinterestlinkedinmail

Tagged: , ,

Jaan Posted by on April 21, 2014. Filed under Business News,Home. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.

 

 

Job of the Day
Sr. Legal Specialist - Labor & Employment Practices
USA-VA-Richmond

Altria Group is a FORTUNE 200 company that owns the premier tobacco companies in the United States including Philip Morris USA, U.S. Smokeless Tobacco Company, John Middleton and Nu Mark. The companie...