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Re: Record Gold Hoard Spurs Bullish Bets

By: capt_nemo in ROUND | Recommend this post (0)
Fri, 25 Nov 11 7:16 PM | 43 view(s)
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Msg. 36608 of 45651
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Currency Wars - Russia Officially Adds 19.5 Tonnes of Gold Reserves in October Alone


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Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.




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The above is a reply to the following message:
Record Gold Hoard Spurs Bullish Bets
By: clo
in ROUND
Fri, 25 Nov 11 5:01 PM
Msg. 36605 of 45651

Record Gold Hoard Spurs Bullish Bets

By Nicholas Larkin - Nov 25, 2011 7:16 AM ET

Gold traders are more bullish after investors accumulated the biggest-ever hoard of the metal, with Europe’s deepening debt crisis driving them to protect their wealth with this year’s second-best performing commodity.

Eighteen of 26 surveyed by Bloomberg expect bullion to rise next week. Holdings in exchange-traded products backed by gold reached a record 2,350.8 metric tons on Nov. 23, now valued at $127.1 billion, according to data compiled by Bloomberg. Hedge funds and other speculators increased their net-long position, or bets on higher prices, for four weeks, the longest stretch since March, Commodity Futures Trading Commission data show.

more:
http://www.bloomberg.com/news/2011-11-25/biggest-gold-hoard-ever-bolstering-bullish-bets-from-traders-commodities.html


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