Fri, Mar 29, 2024
A A A
Welcome Guest
Free Trial RSS pod
Get FREE trial access to our award winning publications
Alternative Market Briefing

Some hedge funds and speculators got bets wrong as gold prices edge up

Thursday, April 10, 2014

Komfie Manalo, Opalesque Asia:

Hedge funds and speculators got their timing wrong as gold prices edged up to $1,311.10 on Wednesday. Although posting a mere 0.18% gain, gold prices remained on an upward trend, after prices dipped into a seven-week low of $1,277.29 earlier this month, according to Business Recorder and Silver Seek data.

The mistiming was the second in three weeks, noted Megan Durisin of Bloomberg, who also said that "disappointing" figures have pushed gold prices up since mid-March even after investors cashed in on bullion holdings for the second week straight.

According to Durisin, investors expected gold prices to soften after the rebound as U.S. equities increased in value, prompting investors to sell bullion and bring prices down to seven-week lows on Tuesday. "As U.S. equities surged to a record, bullion slid to a seven-week low on April 1 as fewer traders saw the appeal of the haven asset. Three days later, the payrolls data drove shares lower and bullion prices 1.5 percent higher to $1,303.50 an ounce, the biggest gain since March 12."

Investor sentiment New York-based Platinum Partners’ presi......................

To view our full article Click here

Previous Opalesque Exclusives                                  
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. KKR raises $6.4bn for the largest pan-Asia infrastructure fund[more]

    Laxman Pai, Opalesque Asia: The New York-based global investment firm KKR has raised a record $6.4bn for its second Asia-focused infrastructure fund, underlining investors' continued appetite for private markets. According to a media release from the alternative assets manager, the figure top

  2. Bucking the trend, top hedge fund makes plans for a second SPAC[more]

    From Institutional Investor: SPACs aren't dead. At least not to the folks at Cormorant Asset Management. The life sciences firm, whose hedge fund topped its peers in 2023, is confident it will match the success of its first blank-check company. Last week, the life sciences and biopharma speciali

  3. Benefit Street Partners closes fifth fund on $4.7 billion[more]

    Bailey McCann, Opalesque New York: Benefit Street Partners has closed its fifth flagship direct lending vehicle, BSP Debt Fund V, with $4.7 billion of investable capital across the strategy. Benefit Street invests primarily in privately originated, floating rate, senior secured loans. The fun

  4. 4 hedge fund themes that are working in 2024[more]

    From The Street: A poor earnings report from Tesla (TSLA) has not hurt the indexes on Thursday. The decline in Tesla stock, which is losing its position in the Magnificent Seven pantheon, is more than offset by strong earnings from IBM (IBM) and ServiceNow (NOW) . In addition, the much higher-t

  5. Opalesque Exclusive: A global macro fund eyes opportunities in bonds[more]

    Bailey McCann, Opalesque New York for New Managers: Munich-based ThirdYear Capital rebounded in 2023, following a tough year for global macro. The firm's flagship ART Global Macro strategy finished the year up 1