Hedge Funds Boost Bullish Gold Bets 35%, Most In Two Months - Gainesville Coins News
No Minimum order! We accept Pay with Credit Card
Call Us: (813) 482-9300 Mon-Fri 9:00AM-6:00PM EST
Login or Register
Log into your account
About Gainesville Coins ®
Billions Of Dollars Bought And Sold A+ BBB Rating 10+ Years No Hidden Fees Or Commissions All Inventory Ships Directly From Our Vault

Hedge Funds Boost Bullish Gold Bets 35%, Most In Two Months

blog | Published On 6/3/2013 4:06:45 PM by Gainesville Coins


Bloomberg reports that hedge funds have increased their bullish bets on the gold market to the highest level in two months, as speculators dump short positions. Net long positions are now at 48,096 futures and options as of May 28, an increase of 35%.

A muddled forecast for the U.S. economy, including today's shocking PMI numbers showing a sudden contraction in manufacturing output, has eased fears of any near-term decrease in Fed market intervention, which means the "money printing" continues.

Bloomberg quotes Michael Cuggino of Permanent Portfolio Family of Funds, Inc as saying "You have a lot of monetary creation going on, and while inflation is not a current threat, that doesn’t mean it’s not a threat at some point.” Some bankers are recorded as thinking that the Fed's $85 billion a month quantitative easing program could last as long as three more years.

by David Peterson

This site uses cookies for analytics and to deliver personalized content. By continuing to browse our site, you agree that you have read and understand our Privacy Policy.