| Speculators keep punishing gold. Money managers stayed net-short on bullion for a second week, after going bearish for the first time since the U.S. government data begins in 2006. The value of exchange-traded products tracking gold slumped $6 billion last month, the most since September, data compiled by Bloomberg show.
With prices stuck near a five-year low, traders are turning their back on gold amid muted inflation and a resilient U.S. economy. Since about 40 percent of what’s mined or recycled annually gets sold as coins or bars, shriveling demand from speculators could mean a prolonged bear market. Morgan Stanley says investment buying will keep dropping through at least 2018...............................................Full Article: Source
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