| Janet Yellen’s optimism about the U.S. economy is making gold speculators the least bullish on record. Money managers are holding the smallest net-bullish bet on gold since the U.S. government data begins in 2006. They’re also dumping silver, platinum and palladium, and combined net-long wagers across the metals are the lowest ever.
About $2.1 billion was erased from the value of exchange-traded products tracking the commodities last week, the most since March. Gold futures dropped to the lowest level since 2010 on Monday, and Barclays Plc recommends that investors short the metal and go long on the dollar. With Federal Reserve Chair Yellen repeating that she’s ready to raise U.S. interest rates this year, investors are dumping precious metals that don’t pay interest or offer returns like competing assets...............................................Full Article: Source
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