Paulson Slashes Gold ETF Holdings but Maintains Positive Outlook
Reuters reported that Paulson & Co. significantly cut holdings of the SPDR Gold Trust during the fourth quarter.
Reuters reported that Paulson & Co. significantly cut holdings of the SPDR Gold Trust during the fourth quarter.
CFTC data suggests that hedge funds are holding their biggest bet on higher prices since mid-September. Money managers raised their combined net-long position in US futures and options by 6.8 percent to 148,279 contracts in the week ended Nov. 1.
Bloomberg reported that calls for gold ETFs have increased the most since early August 2011.
Bloomberg reported on how the SPDR Gold Trust has affected investment activity.
Investors looked to the political crisis in Egypt as a sign that gold would skyrocket as a result of volatility in the international market.
While it’s not what many gold investors want to hear, there is a growing chorus of consensus that gold is not trading off fundamentals and that in fact the recent price rally is merely momentum driven.
Gold prices traditionally rally off the summer lows in September as many players come back to the market. And if this year holds true to that seasonality, next month might turn out to be “a good September.”
ETFs have generated interest among investors, who purchased $277 billion of commodity ETFs and related securities by the end of 2009, attracted primarily to the potential of low costs, stock-like features and relative tax efficiency as well as profiting from exposure to raw materials’ global demand.
By Kishori Krishnan Exclusive To Gold Investing News The dollar rose as did gold. Gold rose in Europe on Thursday as the world’s largest gold-backed exchange-traded fund’s holdings set a record and Wednesday’s equity rally fizzled out, boosting the appeal of gold as a safe investment. Spot gold rose to $913.15/$914.15 an ounce from $906.65 [...]
Thomas Financial News reports the world’s largest gold-backed exchange-traded fund, New York’s SPDR Gold Trust jumped by around 30 tonnes on Monday which is the 2nd biggest in one day. Total holdings jumped to over 750 tonnes — about a third of global gold mine output — which appeared to be a new record high, and [...]
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