- Powers That Be Have Frozen Money For Swiss Gold Initiative October 30, 2014
- The World Is About To Fall Into A Terrifying Deflationary Crater October 30, 2014
- Man Who Ran QE1 Warns Of Major Plunge In Global Markets October 29, 2014
- With Fed Ending QE, Chart Below Sums Up Last 48 Months October 29, 2014
- If You Want To Know How Wild Things Can Get - Look At This October 29, 2014
- Like, Doh! Gold Miners Aren't Gold October 30, 2014 Hard Assets Investor
- Peak Oil? How About Peak Oil Storage? October 30, 2014 The Gold Report
- QE Finished, Gold Fans Clearly Crackpots October 29, 2014 Adrian Ash
- Don't Get Bullish on Gold Below $1350 October 29, 2014 Hard Assets Investor
- Now, About That October 2014 S&P Crash October 29, 2014 Gary Dorsch
Bullish Signal? Funds Gold Bets Are At 3-Year Low
Money managers cut their bullish bets on Comex gold futures and options in the week ended April 24 to the lowest level in more than three years, according to data released Friday by the Commodity Futures Trading Commission.
Managed funds slashed 2,225 long positions, or bets prices will rise, and added 2,450 short positions, or bets prices will fall.
This took their net position down 4% to 107,600 long contracts, from 112,275 long contracts. That’s the lowest in CFTC data since the week ended Jan. 20, 2009.
The net position is the difference between the number of long and short contracts held by traders in the category and shifts in the net positions are considered as indicators of change in sentiment.
The managed-fund net long position represents around 10.7 million troy ounces of gold.
In Comex silver futures and options, these traders added 248 long contracts and 2,883 short contracts. This reduced their net long position by 20% to 10,756 contracts, from 13,390 contracts the previous week.
The net silver position represents around 53.7 million troy ounces of silver.