[Home]  [Headlines]  [Latest Articles]  [Latest Comments]  [Post]  [Sign-in]  [Mail]  [Setup]  [Help] 

Status: Not Logged In; Sign In

MUSK is going after WOKE DISNEY!!!

Bondi: Zuckerberg Colluded with Fauci So "They're Not Immune Anymore" from 1st Amendment Lawsuits

Ukrainian eyewitnesses claim factory was annihilated to dust by Putin's superweapon

FBI Director Wray and DHS Secretary Mayorkas have just refused to testify before the Senate...

Government adds 50K jobs monthly for two years. Half were Biden's attempt to mask a market collapse with debt.

You’ve Never Seen THIS Side Of Donald Trump

President Donald Trump Nominates Former Florida Rep. Dr. Dave Weldon as CDC Director

Joe Rogan Tells Josh Brolin His Recent Bell’s Palsy Diagnosis Could Be Linked to mRNA Vaccine

President-elect Donald Trump Nominates Brooke Rollins as Secretary of Agriculture

Trump Taps COVID-Contrarian, Staunch Public Health Critic Makary For FDA

F-35's Cooling Crisis: Design Flaws Fuel $2 Trillion Dilemma For Pentagon

Joe Rogan on Tucker Carlson and Ukraine Aid

Joe Rogan on 62 year-old soldier with one arm, one eye

Jordan Peterson On China's Social Credit Controls

Senator Kennedy Exposes Bad Jusge

Jewish Land Grab

Trump Taps Dr. Marty Makary, Fierce Opponent of COVID Vaccine Mandates, as New FDA Commissioner

Recovering J6 Prisoner James Grant, Tells-All About Bidens J6 Torture Chamber, Needs Immediate Help After Release

AOC: Keeping Men Out Of Womens Bathrooms Is Endangering Women

What Donald Trump Has Said About JFK's Assassination

Horse steals content from Sara Fischer and Sophia Cai and pretends he is the author

Horse steals content from Jonas E. Alexis and claims it as his own.

Trump expected to shake up White House briefing room

Ukrainians have stolen up to half of US aid ex-Polish deputy minister

Gaza doctor raped, tortured to death in Israeli custody, new report reveals

German Lutheran Church Bans AfD Members From Committees, Calls Party 'Anti-Human'

Berlin Teachers Sound Alarm Over Educational Crisis Caused By Multiculturalism

Trump Hosts Secret Global Peace Summit at Mar-a-Lago!

Heat Is Radiating From A Huge Mass Under The Moon

Elon Musk Delivers a Telling Response When Donald Trump Jr. Suggests


Business/Finance
See other Business/Finance Articles

Title: Paper gold not so shiny anymore: Prices hit 19-month low as speculators ‘give up hope’
Source: [None]
URL Source: https://www.rt.com/business/436465-gold-investors-negative-bets/
Published: Aug 21, 2018
Author: Siphiwe Sibeko / Reuters
Post Date: 2018-08-21 09:07:19 by Ada
Keywords: None
Views: 466
Comments: 1

Paper gold not so shiny anymore: Prices hit 19-month low as speculators ‘give up hope’

The price for gold – which has traditionally served as a haven asset for investors – has fallen by nine percent so far this year. Holders of gold futures contracts, not the physical metal, are shorting their positions.

Last week, the price for the yellow metal fell to its lowest level since January 2017. On Tuesday, it was trading at $1,194 a troy ounce. Global demand for gold futures in the first half of the year was at its lowest since 2009.

Experts say the US dollar’s unexpected strength is one of the reasons why gold became less appealing to investors. They warn that pain in the gold market could intensify.

Read more © Getty Images US paper gold suppression allowing Russia & China to buy real gold at discount prices

“The long suffering holders of ETFs [exchange-traded funds – Ed.] have finally given up hope of the yellow metal returning to its former glories and have decided there is better protection in the dollar, the stock market and pretty much anything other than gold,” David Govett, head of precious metals at Marex Spectron, was quoted as saying by Bloomberg. “I can only say that gold, as a safe haven, has been a massive disappointment this year.”

The level of gross shorts (those investors betting against higher gold prices) has hit record levels in recent weeks. According to analysts, that could be a contrarian signal for the metal.

Peter Boockvar, chief investment officer at Bleakley Financial Group, has calculated that for the first time in 17 years, there’s a net short in gold of 3,700 contracts. Net short refers to holding more short positions than long positions in a given security, sector or portfolio. If an investor has long positions it means that he has bought and owns those shares of stocks. By contrast, with short positions it means that the investor owes those stocks to someone, but does not actually own them yet.

“Two months ago, speculators were net long by 120,000 contracts. By last week, they were net short,” Boockvar told CNBC, adding “…we’re close to bottoming out in gold in days or weeks.”

Post Comment   Private Reply   Ignore Thread  


TopPage UpFull ThreadPage DownBottom/Latest

#1. To: Ada (#0)

Net short means they have to pay out the contract or buy gold. Price will go higher. Jim Willie said the Dollar would go Higher and Higher until it Burst (Reset). The Emerging Markets borrowed $40 trillion in 2008 to keep from going under. Now they have to buy dollars to get out of their contracts. The Dollar will Die soon enough. Then gold will go up but silver go go up more percentagewise than gold.

The Truth of 911 Shall Set You Free From The Lie

Horse  posted on  2018-08-21   10:54:52 ET  Reply   Trace   Private Reply  


TopPage UpFull ThreadPage DownBottom/Latest


[Home]  [Headlines]  [Latest Articles]  [Latest Comments]  [Post]  [Sign-in]  [Mail]  [Setup]  [Help]