Mon, Sep 15, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Some are dumping gold as price continues to slump

Monday, May 20, 2013

From Precy Dumlao, Opalesque Asia – Gold prices are declining and some investors are losing faith in the metal, although not all of them.

A report by the Sydney Morning Herald says that George Soros had sold his gold holdings in the last quarter and that Goldman Sachs Group predicted more declines after the longest slump in four years. According to U.S. CFTC data, the Soros and Goldman Sachs funds and other large speculators held 74,432 short contracts on May 14 (and 67,374 a week earlier), SMH reports, and the net-long position dropped 20% to 39,216 futures and options, the lowest since July 2007. On Monday (May 20), the price of gold fell 1.5% to $US1,338 an ounce, the lowest price since April 18, and traded at $US1,348 in Singapore .

Furthermore, in Australia, seven of the ten worst performing stocks are gold mining firms, the report adds.

Last Monday, Bloomberg reported that hedge funds had increased their bets on lower gold prices after investors pulled a record $20.8bn from bullion funds this year.

"I think hedge funds have begun accepting the fact that deflation is a bigger threat to the U.S. economy now than inflation. So, the argument of owning gold as an inflation hedge no longer holds water," Adam S......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Investing - Big hedge funds show interest in Alibaba, Maglan joins other hedge funds in rush to Argentinian assets[more]

    Big hedge funds show interest in Alibaba From Hereisthecity.com: …Three other major hedge fund investors who have shown interest in the IPO are Dan Loeb of Third Point, David Tepper of Appaloosa Management and Dan Benton of Andor Capital Management. All three were among the roughly 800 p

  2. Socially responsible investments provide higher yield[more]

    Komfie Manalo, Opalesque Asia: A study by New Amsterdam Partners showed that asset managers with high ESG (environmental, social and governance) ratings provide higher gains with their portfolios compared to managers with low ESG ratings. In a study entitled

  3. Rothschild sees ‘new monetary world’ and recommends hedges[more]

    From Valuewalk.com: Rothschild Wealth Management is concerned about complacency and somewhat befuddled about the potential for stimulus in the Eurozone given the economic indicators. In their September “Market Perspective” report, Rothschild observed that while the risks in the Ukraine and Syria are

  4. SEC charges Minnesota hedge fund manager with fraud[more]

    Bailey McCann, Opalesque New York: The SEC has brought charges against Minneapolis-based hedge fund manager, Steven R. Markusen for bilking investors out of fees and portfolio pumping. According to the complaint, the management fees earned by Archer Advisors LLC were shrinking due to the funds’ w

  5. …And Finally – Immature[more]

    From Newsoftheweird.com: Princeton University professor John Mulvey, 67 (who teaches financial engineering applications), was charged in July with stealing 21 yard signs around the town of Princeton -- signs for a computer repair business owned by a man with whom he was feuding. Nathan McCoy,