[miningmx.com] – PRESSURE on the gold price was set to continue based on the trading activity in the New York futures market in which speculators increased their bearish wagers, said Bloomberg News.
Hedge funds swung into a net short position for the first time amid speculation that US interest rates will start to climb this year whilst data from China recently showed it had bought less gold than expected, said the newswire.
“You’re starting to see some real fear in the gold market for the first time,’ Eric Crittenden, chief investment officer at Longboard Asset Management told Bloomberg News. “I’m not going to be the least bit surprised if this turns into something very significant and we get a lot lower prices,” said Crittenden who $304m fund has been short gold since 2013.
Click here to read the full article
