| Record hedge-fund pessimism about gold prices came at exactly the wrong time, just prior to the precious metal’s biggest rally since September. Money managers boosted their gold net-short position to the highest ever three days before Friday’s U.S. jobs report, which showed growth for payrolls, but also a rising underemployment rate.
The data, coupled with Federal Reserve Chair Janet Yellen’s signals that interest rate increases will be slow as the economy grows, sent gold prices higher. It’s been a tough year for gold bulls, with prices already set for a third annual loss, the longest slump since 1998...............................................Full Article: Source
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