19.10.2015 - Is it time to pile back into gold?
A recent rally in gold prices has refuelled debate if the precious metal is poised for a recovery after slumping this summer to its lowest in five years. Analysts still vary on their prices, but it seems the overall bearish drag on gold is behind us. The yellow metal has staged a decent rally, gaining roughly 6 per cent during the first half of October and adding 8 per cent since reaching a five-year trough of US$1,084.65 per ounce in early August. Gold prices are turning a corner, according to Canadian lender Scotiabank, citing increases in gold exchange-traded fund holdings and net long fund positions. The net long fund position in gold in US Commodity Futures Trading Commission data have risen to over 76,000 contracts recently from a half-year low of 24,465 contracts in July, a sign short positions were covered and reflecting a less downbeat outlook in the market...............................................Full Article: Source
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