Tue, Feb 9, 2016
A A A
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 Brecorder.com, 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. Investing - Avenue Capital's Marc Lasry: We like European bank loans, Comment: A bunch of hedge fund managers are chasing the 'dream of crushing a major structural problem'[more]

    Avenue Capital's Marc Lasry: We like European bank loans From CNBC.com: European banks are under immense pressure, but at least one prominent hedge fund has found what it thinks is a good opportunity in the wreckage. Marc Lasry, co-founder and chief executive of hedge fund Avenue Capital

  2. Credit Suisse cherry picks hedge fund ideas[more]

    From FT.com: Credit Suisse Asset Management plans to cherry pick profitable concepts from hedge funds with the launch in Europe of a “best ideas” strategy. The investment arm of the Swiss bank said the strategy will separate it from other funds blighted by “overcrowding problems”. It comes at a time

  3. Investing - Hedge funds bet on risks in U.S. blue-chip debt, Hedge funds bets against bank credit risk paying off, Tiger Global still likes Internet names, gets pointers from Jeter[more]

    Hedge funds bet on risks in U.S. blue-chip debt From WSJ.com: Hedge funds are betting the next bond sector to crack will be the $4.5 trillion market for the safest U.S. corporate debt. New York’s Perry Capital has placed a $1 billion wager against investment-grade bonds issued by 10 comp

  4. Short Selling - Hedge fund manager Kyle Bass is shorting real estate—again, Top US hedge fund has €80m short position in Paddy Power Betfair[more]

    Hedge fund manager Kyle Bass is shorting real estate—again From Fortune.com: He also predicted the mortgage crisis in 2008. Hedge fund manager Kyle Bass, who runs Dallas-based Hayman Capital, tanked the stock of a little-known real estate financier Friday by revealing that he is shorting

  5. HFRU Hedge Fund Composite Index down -2.58% in January[more]

    Global financial markets posted sharp losses in January led by declines in Oil and global equities, though steep intra-month losses in both were narrowed by strong gains in final trading days of the month. Global equities posted steep declines for the month led by Biotechnology, Energy, Financial, E