Hedge Funds Switch From Bullish To Bearish On Gold, Bloomberg

(Bloomberg) — “Glimmers of global optimism are casting a pall over gold. J.P. Morgan Securities unwound its gold hedge because of “signs of a cyclical recovery, easing geopolitical tensions, synchronized monetary easing,” the bank’s asset-allocation team said Thursday. Citigroup Inc. strategists abandoned a long position in gold, in their asset-allocation note Thursday. Earlier that week, money managers boosted their bearish wagers on the metal”. Read more

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