22.11.2012 - End of commodity supercycle?
Gold is mirroring a larger bout of investor disenchantment with commodities. The current trend could signal the end of the commodity supercycle, warns Citibank. Investors appear to be losing faith in the bull story for gold, says Ed Morse, Citibank 's star analyst. "Indeed, net long managed money positions on Comex have fallen by 33% since October 2 2012, not exactly a vote of confidence for further significant gold upside," the renowned analyst said in a note to clients. "Perhaps only more concerted European policy moves with reference to managing Greece/Spain may provide Euro confidence, and thus gold upside."..............................................Full Article: Source
Print