02.09.2014 - Hedge funds cut gold bullish bets as bullion recovery stalls
Prices fall 2.6 per cent since June as signs of faster US growth fortifies the case for an interest-rate rise and reduces bullion's value as a haven. After gold's rally in the first half of the year beat gains for commodities, equities and Treasuries, bullion is back to being out of favour with investors. Hedge funds cut their bullish gold bets for the fourth week in five, sending holdings to a two-month low, United States government data shows. Open interest in New York futures is the smallest in five years, and assets in global exchange-traded products backed by the metal in August posted the biggest monthly drop since May...............................................Full Article: Source
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