Salient to Investors: Commodity speculators increased net-long positions last week by the most since Nov. 27. Barclays says investors increased commodity holdings by $20.4 billion in 2012 versus $14.6 billion in 2011. Suki Cooper et al at Barclays said palladium will be the best performing precious metal in 2013 as supplies tighten and demand
READ MORE... →Salient to Investors: Damien Courvalin and Alec Phillips at Goldman Sachs said gold will climb to $1,825 in 3 months – consistent with rallies into debt-ceiling decisions – and then decline in half2 2013 as the US economy rebounds. Tom Kendall at Credit Suisse expects lower prices in half2 as the U.S. recovers and fear trades fade. Allan Hochreiter said
READ MORE... →Salient to Investors: Gold looks poor technically but its fundamentals of robust investment and central bank demand remain intact. Gold will be supported by the US political standoff about the debt ceiling and expectations of continual quantitative easing. A lack of trust regarding central bank gold reserves could lead to
READ MORE... →Salient to Investors: Christin Tuxen at Danske Bank predicts gold will average $1,720 an ounce in 2013 as central-bank stimulus will sustain buying as a hedge against inflation and currency devaluation, and $1,600 in 2014 as economic growth curbs demand. Tuxen said the prospect of the Fed stopping easing and improving economic activity
READ MORE... →Salient to Investors: Hedge funds et al trimmed net-long positions to the lowest since June 19, and gold holdings fell to the lowest since August. The S&P GSCI index of 24 raw materials has climbed for 5 consecutive weeks. Quincy Krosby at Prudential Financial said data out of China and the US shows we are
READ MORE... →Salient to Investors: Rob Haworth at US Bank Wealth Mgmt said 2012 saw much liquidating by hedge funds, but there’s an incentive to reverse that because of growth in emerging markets and especially China – it’s going to be a good year for commodities. The median economist expects China to accelerate for at
READ MORE... →Salient to Investors: Hedge funds et al reduced net-long positions across 18 US futures and options last week to the lowest since June 19. Gold holdings reached a 4-month low, copper holding dropped for the first time in five weeks, and investors were the most bearish on natural gas since May. Walter Hellwig at BB&T
READ MORE... →Salient to Investors: Bill Gross at Pimco said: Stocks and bonds will return less than 5 percent in 2013 due to a sluggish economy as the effect of Fed stimulus diminishes Structural headwinds lower real GDP to below 2 percent in the US and other developed nations. Bernanke is not Rumpelstiltskin and can
READ MORE... →Salient to Investors: Gold traders are the most bullish in four months, investors bought 60 percent more this year through gold-backed ETPs versus with 2011. Gold is headed for a 12th consecutive annual gain, the longest run in at least nine decades. Nations from Brazil to Iraq to Russia are buying gold
READ MORE... →Salient to Investors: Hedge funds et al lowered net-long positions in futures and options to the lowest since June 26, gold holdings dropped to the lowest since August, silver fell the most since July 24, and turned bearish on wheat for the first time in six months. Simon Ringrose at EPFR Global said money managers last week withdrew
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