| Hedge funds picked the wrong time to build their bullish silver bets to a record. Prices have dropped almost 4 percent since last Tuesday, when the funds’ wagers reached their peak. That’s the biggest such loss since July.
A day after the speculators boosted their net-long positions in silver futures and options to the highest since 2006, the oldest government data available, Federal Reserve officials signaled U.S. interest rates could climb in December. The threat of higher rates by year-end has sent ripples through precious metals, which lose out when monetary policy tightens because they don’t pay interest or dividends...............................................Full Article: Source
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