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Investors Flee Gold as Long Positions Hunker Their 2002 low
July 17, 2013
11:16 am
Harrey Martin
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Although gold is perched near its highest levels in nearly three weeks, investors remain wary of buying it. BofA analysts note that market players have largely liquidated their bullish bets on gold: at USD 2.1 billion, bullion long positions are hunkered at their lowest levels since 2002, the bank said.

Gold has fallen out of favor with large speculators, according to data from Bank of America/Merrill Lynch, with positioning sliding to its lowest spot in nearly a decade.

Although gold is perched near its highest levels in nearly three weeks, investors remain wary of buying it. BofA analysts note that market players have largely liquidated their bullish bets on gold: at USD 2.1 billion, bullion long positions are hunkered at their lowest levels since 2002, the bank said.

Meanwhile, "speculative shorts in gold are their largest ever," BofA added.

Despite global central banks' having no intention of removing their collective foot from the monetary throttle anytime soon, gold bulls have been chastened by a dizzying selloff that has shaved more than 25 percent from bullion's value in 2013.

Hedge fund guru John Paulson's flagship gold fund has plummeted by more than 65 percent this year, according to reports.

Read more: http://tradingtipsexpert.wordp…..-2002-low/

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July 26, 2013
6:27 am
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August 29, 2013
10:48 am
commodityadvisory
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August 27, 2013
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Gold settled down -0.92% at 33405 eased after a five-day rally but was still holding near its highest since mid-May, as possible US military strikes against Syria stoked safe-haven buying of the metal. Earlier in the day Gold rallied and crossed Rs.35074/10gms as Rupee decreased to a record low, falling 3.6% in one session, slipping 2.9% in the last trading session, and posting the biggest decline since 1991.

http://www.commoditytipsadvisory.com/

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