24-06-2013, 09:42 AM
It puts further stress on those "Gold buy-back scheme" alternative investment...
Gold wagers slump as S$69 billion erased from funds
NEW YORK — Hedge funds cut bets on a gold rally by the most since February after the United States Federal Reserve laid out plans for reducing stimulus, and this year’s drop in the value of exchange-traded products (ETPs) extended to $54 billion (S$69 billion).
Speculators reduced their net-long position by 29 per cent to 38,951 futures and options by June 18, US Commodity Futures Trading Commission data show. Holdings of short contracts jumped 14 per cent, the most in eight weeks.
http://www.todayonline.com/business/gold...ased-funds
Gold wagers slump as S$69 billion erased from funds
NEW YORK — Hedge funds cut bets on a gold rally by the most since February after the United States Federal Reserve laid out plans for reducing stimulus, and this year’s drop in the value of exchange-traded products (ETPs) extended to $54 billion (S$69 billion).
Speculators reduced their net-long position by 29 per cent to 38,951 futures and options by June 18, US Commodity Futures Trading Commission data show. Holdings of short contracts jumped 14 per cent, the most in eight weeks.
http://www.todayonline.com/business/gold...ased-funds