Mon, Oct 5, 2015
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Hedge funds, money managers cut bullish bets on gold as price edged up to $1,300

Tuesday, May 20, 2014

Komfie Manalo, Opalesque Asia:

Hedge funds and money managers cut their bullish bets on gold futures and options even as the price of the yellow metal reaches the psychologically important $1,300 per ounce, according to the latest data from the Commodity Futures Trading Commission (CFTC).

According to, gold prices picked slightly at the start of this week and rose 0.6% on Monday after posting two consecutive sessions of losses. The U.S. gold futures also slightly edged by 0.5% to $1,300.50 an ounce.

Industry players warned the upcoming announcement from the European Central Bank to cut interest rates to support the euro zone economies might have a negative impact on gold. Matthew Turner, an analyst at Macquarie was quoted as saying, "The ECB's loose monetary policy should be bullish for gold but the downside is that it makes the euro weaker, lifting the dollar up so it might not be seen in the dollar gold price."

"Adding to gold's general sense of directionlessness was the ECB's announcement that the Central Bank Gold Agreement would be renewed ... but without any sales limit, there is not much purpose to it," Turner added.

A separate report by Bloomberg said hedge funds cut their bullish bets on gold futures by the most in......................

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. Performance - Hedge fund moguls Einhorn, Loeb, Rosenstein lose money in September, Risky strategy sinks small hedge fund[more]

    Hedge fund moguls Einhorn, Loeb, Rosenstein lose money in September From Billionaire stock pickers David Einhorn, Daniel Loeb and Barry Rosenstein on Wednesday told their wealthy investors they lost money in September as market turmoil inflicted more pain on some of America'

  2. Opalesque Exclusive: IRAs represent billions of untapped capital for hedge funds[more]

    Benedicte Gravrand, Opalesque Geneva: Retirement accounts might not be the first source that comes to mind for those looking to raise funds, but they may represent billions of untapped capital. Unlike traditional retirement accounts,

  3. Opalesque TV: One way to access market hedge funds in the EU under the AIFMD radar[more]

    Benedicte Gravrand, Opalesque Geneva: While the Cayman Islands, the US and Hong Kong await the pan-European marketing passport to be extended to alternative investment fund

  4. Vilas’ equity long bias hedge fund generates market-beating results[more]

    Komfie Manalo, Opalesque Asia: The Vilas Fund, an equity long bias fund managed by Chicago, Illinois-based Vilas Capital Management, posted five-year annualized returns, net of fees, of 23.47% vs. 15.87% for the S&P 500 Index, including divid

  5. Performance - Manager admits spin used to hide poor performance, Fortress macro hedge fund slumps 17.2% amid manager shakeup, In the hedge fund world, bigger is still better[more]

    Manager admits spin used to hide poor performance From … Colin McLean, managing director of SVM Asset Management, told FTAdviser that fund managers underperform all the time, so stories are often needed to mask or explain this. “People need to build a good framework