Anxiety during a High: Money Managers Long Gold Positions Near Aug 2011’s Record High

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Money Managers Long Gold Positions Near Aug 2011's Record High

Money Managers Long Gold Positions Near Aug 2011’s Record High

“There’s still a lot of fear out there,” warns one financier as a multiple of eventuality risks (e.g. Brexit, Spain, US Election) and a foul tumble of executive bank credit has item managers around a universe pier into holds and bullion. With disastrous rates now de rigeur, tellurian grown marketplace bond yields are pulling record lows as direct for insurance from fiat debacles in changed metals (and choice currencies) has sent money managers prolonged position nearby Aug 2011’s record highs.

As Fed credit collapses (red line – inverted expectations of rate-hike-pace) so Gold (gold line) and tellurian grown marketplace holds (green line) have soared parasite for tick…

Having depressed to a net brief position as The Fed attempted (unsuccessfully) to remonstrate a universe it was on a trail to normalization, money managers have piled into bullion (futures and options) during nearby record pace…

The final time bullion net longs were this high was Aug 2011… from when prices tumbled notwithstanding a nearby doubling of The Fed’s change sheet…

“There’s some-more upside risk for bullion than there is downside,” Josh Crumb, a arch plan officer who helps manage $1.7 billion during Toronto-based GoldMoney, pronounced in an talk in New York. “For bullion to fall, they would have to lift seductiveness rates some-more than a marketplace expects, and we consider that’s a really doubtful scenario.”

 

 

 

Courtesy: Zerohedge

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