| Despite an underwhelming U.S. jobs report and turmoil in Greece, institutional investors are more bearish on gold prices now than at any point in history. With China’s stock market in freefall and Europe on the brink of chaos, many analysts predicted that investors would seek the relative safety of precious metals. Those predictions have been wrong so far.
A recent report from the Commodity Futures Trading Commission (CFTC) shows that some of the world’s largest hedge funds are unloading their bullish positions on gold futures. The value of futures contracts fluctuate based on where investors think the asset’s price is headed. If they are optimistic, investors amass “long” positions; if they are pessimistic, they take “short” positions...............................................Full Article: Source
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