(Bloomberg) Record hedge-fund pessimism about gold prices came at exactly the wrong time, just prior to the precious metal’s biggest rally since September. Money managers boosted their gold net-short position to the highest ever three days before Friday’s U.S. jobs report, which showed growth for payrolls, but also a rising underemployment rate. The data, coupled with Federal Reserve Chair Janet Yellen’s signals that interest rate increases will be slow as the economy grows, sent gold prices higher.
Hedge Funds Turning Record Bearish on Gold Miss Metal’s Rebound
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