Salient to Investors: Morgan Stanley said ETF selling and a stronger dollar is the largest headwind facing gold, so should either trend ease, physical demand via jewelry sales and central bank buying could provide key support. Feng Liang at GF Futures said prospects for the US economy remain positive and expectations
READ MORE... →Salient to Investors: Money managers cut their net-long position of futures and options to the lowest since July 2007, while holdings of short contracts rose to a record. Dan Denbow, a fund manager at the $1 billion USAA Precious Metals & Minerals Fund said gold has so many drivers that it gets
READ MORE... →Salient to Investors: 12 analysts expect gold prices to rise next week, 9 fall and 8 neutral, the highest proportion of bulls since April 26. Wolfgang Wrzesniok-Rossbach at Degussa Goldhandel said gold purchases outpaced sales by 9 to 1 versus 4 to 1 in Q1. Daniel Briesemann at Commerzbank said gold should
READ MORE... →Salient to Investors: Carlos Perez-Santalla at Marex North America said nervous investors are turning to gold as everything else looks very bleak, while the weakness in the dollar is supportive for gold. David Govett at Marex Spectron said bullion has no real direction whatsoever: moves are massively over-exaggerated due to
READ MORE... →Salient to Investors: Charles Evans at Chicago FRB said US growth should be self-sustaining in 2014. David Lennox at Fat Prophets said any talk of a time horizon for QE takes the shine off any gold price rises, while ETP sales will put downward pressure on prices. Read the full article at http://www.bloomberg.com/news/2013-05-21/gold-resumes-slump-on-concern-fed-will-reduce-stimulus-program.html Click here
READ MORE... →Salient to Investors: George Soros and BlackRock cut stakes in gold ETFs in Q1, signaling waning investment demand. The World Gold Council said gold ETP demand dropped 13 percent in Q1 from a year earlier and outweighed a surge in purchases of coins, bars and jewelry in China and India. Frank McGhee at Integrated Brokerage
READ MORE... →Salient to Investors: George Soros cut holdings of gold ETPs in Q1, 2013. John Paulson maintained a stake and Schroder Investment Mgmt bought in Q1. Deutsche Bank said assets in SPDR will probably drop by an additional 2 million to 4 million ounces after slumping 9.7 million ounces since mid-December. Jeffrey Currie et al at Goldman Sachs
READ MORE... →Salient to Investors: John Paulson lowered stakes in gold miners in Q1 and added shares of companies that stand to benefit from a stronger economy. Paulson has done well investing in companies undergoing mergers or restructurings, but his big bets in the past 2 years on macroeconomic developments have undermined that
READ MORE... →Salient to Investors: Bloomberg Global Poll: International investors are the most bullish on the US and Japanese markets in more than 3.5 years as both economies are seen to be improving. Over 40% will reduce gold exposure over the next 6 months, close to 3 times more than those who
READ MORE... →Salient to Investors: Hedge funds et al increased bets on a gold rally by the most in 3 weeks, while short contracts fell 9.2 percent, the most since March 19, though short holdings are still more than triple the average since 2006, when data begins. Net-bullish wagers across 18 US-traded raw
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