Hedge funds slash bullish wagers on gold before war jitters
me-metals: Money managers’ bullish wagers on gold fell to the lowest in nearly four months before a flare-up in the Russia-Ukraine war boosted its haven appeal.
According to me-metals cited from mining.com, Hedge funds and other large speculators reduced net-long positions by 3.6% to 190,324 contracts as of Nov. 19, the lowest in 15 weeks, weekly US government data showed on Friday.
The precious metal was under pressure in the weeks following the re-election of Donald Trump as the US dollar surged, weighing on commodities. Gold has since recouped those losses amid rising geopolitical tensions.
The precious metal was under pressure in the weeks following the re-election of Donald Trump as the US dollar surged, weighing on commodities. Gold has since recouped those losses amid rising geopolitical tensions.
source: mining.com
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