02.01.2015 - Funds unconvinced by gold rebound
Gold’s year-end rebound is taking investors by surprise. With Greece facing another political crisis and equities giving up some gains, bullion is headed for the biggest monthly advance since June. Hedge funds lowered their wagers on a rally for a second straight week, and holdings in exchange-traded products backed by the metal are near the lowest since 2009. The money managers aren’t the only ones being caught off guard, with the rebound undercutting bearish forecasts from Goldman Sachs Group Inc. and Societe Generale SA. The metal has climbed 5.9 percent since reaching a four-year low in November. Slowing economies are prompting central banks in Europe and Asia to add to monetary stimulus, while gold’s volatility is picking up after spending most of 2014 in the doldrums...............................................Full Article: Source
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