Hedge Funds: Hedge Funds Hesitant on Gold

https://dailyalts.com/wp-content/uploads/2020/04/gold-bars-4722600_640.jpg

Hedge Funds: Hedge Funds Hesitant on Gold

Hedge funds have reduced their focus on gold as the market for gold has become more turbulent.  The CFTC illustrated that money managers decreased their gross long positions.  Comex gold futures shrunk by 4,402 contracts to a total of 151,016.  Short bets fell by 2,148.  

Gold’s net length is now down two percent from last week.  Analysts expect that hedge funds will continue this trend and pull back from gold bets.  According to Ole Hansen of Saxo Bank, “What the market needs in the short term is to consolidate its strong gains. On that basis we see the potential upside above $2000 limited until the market gets used to and feels comfortable with the current levels. Given how far the market has travelled already this year, a correction could be relatively deep.”  Analysts at TD have expressed their concern with gold, stating that there has been a “bloated” momentum in the market.  Additionally, Commerzbank analysts claim that most funds are taking a “wait-and-see” approach.  Without the force of ETF demand, the gold price is unlikely to make any more significant gains. 

On the other hand, bullish interest has spiked in silver after weeks of decline.  Comex silver futures rose by 7,329 contracts to a total of 58,680.  Silver’s net length is up 34 percent from the previous week, at 32,257 contracts.  Similar to gold, however, gains for silver are short-lived.   

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2022/01/Bink-app-shot.png
FinTech: Lloyds To Acquire Stake In Loyalty App Bink
January 4, 2022     FinTech, News

Lloyds Banking Group (LON: LLOY), Britain’s biggest mortgage provider, will acquire a minority stake in loyalty app Bink, according to a report by Sky News for an undisclosed amount that…

https://dailyalts.com/wp-content/uploads/2022/01/Screenshot-2022-01-04-at-22-29-49-Screenshot-Pawson-2.png
Digital Assets: Coinbase CEO Armstrong Said To Have Splurged $133M On Home In LA
January 4, 2022     Digital Assets, News, Real Estate

An iconic property in Bel Air, Los Angeles, designed by internationally acclaimed English architect John Pawson changed hands last month for $133 million and the buyer was Coinbase (NASDAQ: COIN)…

https://dailyalts.com/wp-content/uploads/2022/01/47752022922_e4569a2f0e_c.jpg
Alternative Investments/ESG: VegTech Invest Launches Plant-Based Innovation & Climate ETF

VegTech Invest advisory has launched the VegTech Plant-based Innovation & Climate ETF (Ticker: EATV), its first financial product. The ETF offers exposure to publicly traded companies actively innovating with plants…

https://dailyalts.com/wp-content/uploads/2022/01/Screenshot-2022-01-04-at-18-48-26-超·世界.png
Venture Capital: Chinese AI Startup Parametrix Raises $100M, Turns Unicorn
January 4, 2022     Artificial Intelligence, News, Venture Capital

Chinese AI company Parametrix.ai has raised $100 million in a Series B round led by Sequoia China and joined by existing investors 5Y Capital and Gaorong Capital. Though the valuation…