This might show investors’ tendency to believe that 2014 will be a year of neutral economic news and quantitative easing.
In the week ended November 5, speculators in the CFTC’s weekly commitment of traders report shown a more bearish outlook on gold and silver. The funds have been building their net-long positions in the platinum group metals.
Alex Thorndike, senior trader, precious metals and foreign exchange, MKS Capital Pty Ltd, said this was the largest increase in funds’ short gold contracts in four weeks. “The net position in gold slid 13% for managed money and short bets jumped 37%,” he said.
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