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Commodities Briefing - Categorized | Bullion/Gold, Trading more

Gold traders most bearish in three years after drop

Posted on 06 May 2013

Gold traders are the most bearish in three years after investors sold a record amount of the yellow metal held in exchange-traded products (ETPs) and prices tumbled in a bear market.
Twenty analysts surveyed by Bloomberg expect bullion to drop next week, with nine bullish and four neutral, the biggest proportion of bears since February 2010. Investors sold 174 tonne through ETPs last month, and $17.9 billion of value was wiped out, data compiled by Bloomberg show. Hedge funds accumulated their secondbiggest bet against gold on record, according to US Commodity Futures Trading Commission data………………………………………..Full Article: Source


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