(Bloomberg) Gold is in the doldrums.Prices have fallen for six straight weeks, the worst streak in a year, as prospects for higher U.S. borrowing costs damped demand for gold, a for non-interest-bearing asset. Investors don’t seem too optimistic about the outlook for 2017. Hedge funds cut their bets on a rally to the lowest since February, while outflows are ramping up from exchange-traded funds.
With Gold Prices Stuck in ‘Purgatory,’ Hedge Funds Pull Out
This entry was posted in Syndicated. Bookmark the permalink.
