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Archive for the Gold Category

Gold-Price Indicator Fading as ETPs Tumble by $71 Billion – Bloomberg 08-28-14

Salient Points: Gold prices and gold ETP holdings have the most-negative correlation since 2004, making the latter less useful as market predictors..  Mark Luschini at Janney Montgomery Scott said the disconnect is because a lot of money has left. Comex open interest fell to a 5-yr low this month and volatility is […]

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Central Banks in Russia to Kazakhstan Boost Gold Reserves – Bloomberg 07-26-14

Salient Points: IMF data show: Central banks lowered world gold reserves for a second month by May. Russia, Kyrgyzstan, Tajikistan, Serbia, Greece and Ecuador boosted gold reserves in June. Turkey increased its gold holdings in May. Germany lowered its holdings in June. Hedge funds almost doubled their net-long positions in […]

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Goldman Stays Gold Bear as Bullish Wagers Increase – Bloomberg 07-14-14

Salient Points: Jeffrey Currie at Goldman Sachs predicts gold to fall to $1,050 by year-end as the economy improves and there is more confidence in the recovery, without significant inflationary concerns. Goldman predicts higher interest rates in Q3, 2015. Last week, net-long positions in gold rose to their highest level […]

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Gold Drops as Climb to 4-Month High Spurs Investor Sales – Bloomberg 07-14-14

Salient Points: Hedge funds et al are the most bullish on gold since November 2012. Jeffrey Currie at Goldman Sachs expects $1,050 by year-end as the economy improves. Abhishek Chinchalkar at AnandRathi Commodities said prices are a little overstretched technically as funds are overbought, while gold is vulnerable to a […]

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Gold Shines Again as Hedge Funds Boost Wagers on Advance – Bloomberg 07-08-14

Salient Points: Money managers increased net-long positions in gold for a fourth straight week through July 1 and assets in gold-backed global ETPs are rising at the fastest pace since November 2012. John Kinsey at Caldwell Securities expects further gold strength through 2014. Societe Generale predicts gold prices will fall […]

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Gold’s Flow East Seen for 20 Years as Incomes Increase Demand – Bloomberg 06-26-14

Salient Points: The China Gold Association said the global flow of gold from west to east that helped to make China the world’s largest user at 28 percent of global usage in 2013 will last for up to two decades as rising incomes spur demand. Asia accounted for 63 percent […]

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Gold Bulls Run for $1,400 as Turmoil in Ukraine Spurs Demand – Bloomberg 03-04-14

Salient Points: Quincy Krosby at Prudential Financial is seeing momentum traders come in, while mixed US economic numbers and concerns about slowdown elsewhere have boosted demand for a safe-haven asset. Goldman Sachs in February reiterated gold will fall to $1,050 by year-end, Westpac Banking predicts $1,011 in December. UBS said […]

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Gold to Coffee Drive Bullish Bets to 17-Month High – Bloomberg 02-25-14

Salient Points: Hedge funds’ net-long positions of 18 US-traded commodities rose 18 percent last week to the highest since September 2012. Investors tripled the net-long position in arabica coffee this month to the most bullish since May 2011 Barclays said weather is the big driver of commodities. EPFR Global data […]

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Jim Rogers thinks gold will bottom 2014 – Jim Rogers Blog 01-30-14

Salient Points: Jim Rogers said: Precious metals are overdue for a modest rally as everybody got negative and everybody got short. Won’t buy or sell the rally, but wait until later in the yearn when gold will fall and hopefully make a nice bottom around $900-$1100 so we can buy […]

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Bonds Prove Bears Wrong in Best Start Since 2008 as Stocks Tank – Bloomberg 01-30-14

Salient Points: Paresh Upadhyaya at Pioneer Investment Mgmt said January was definitely a surprise for investors. Neil Azous agreed. Fixed-income assets worldwide posted their biggest January returns since 2008, while equity prices fell the most since 2010. Gold is rallying. Joseph Quinlan at US Trust Bank of America said this is […]

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