Gold Shines Again as Hedge Funds Boost Wagers on Advance – Bloomberg 07-08-14

Salient to Investors:

  • Money managers increased net-long positions in gold for a fourth straight week through July 1 and assets in gold-backed global ETPs are rising at the fastest pace since November 2012.
  • John Kinsey at Caldwell Securities expects further gold strength through 2014.
  • Societe Generale predicts gold prices will fall by year-end.
  • Barnabas Gan at Oversea-Chinese Banking said gold will fall to $1,150 by year-end.
  • Goldman expects gold to fall by year-end and drop to $1,050 in 12 months.
  • Chad Morganlander at Stifel, Nicolaus expects gold prices to fall as the global economy improves and the US economy accelerates in the coming months.
  • The Linn Group said corn output in the US will jump to the highest ever this year.
  • Sameer Samana at Wells Fargo Advisors said it is hard to see how corn prices can rise given record acres and record yields.

 

Read the full article at http://www.bloomberg.com/news/2014-07-07/gold-shines-again-as-hedge-funds-increase-holdings-commodities.html

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