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Do these hedge fund geniuses have even a clue that the gold market is rigged?
Hedge Funds Pick the Wrong Time to Go Big on Gold as Prices Drop
By Luzi-Ann Javier
Bloomberg News
Friday, June 15, 2018
Hedge funds just mistimed their gold bets.
Money managers as of Tuesday pushed their wagers on a bullion rally to the highest in seven weeks. The next day, Federal Reserve policy makers signaled more interest-rate increases this year than earlier projected. Gold ended up posting a weekly loss as the dollar rallied.
... Dispatch continues below ...
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Bullion has been stuck in the doldrums for most of this year as the outlook for higher borrowing costs dimmed prospects for the metal, which doesn't pay interest. [ GATA EDITOR'S NOTE: Gold doesn't pay interest except when it does -- when an owner leases it.]
Even rising trade tensions between the U.S. and China that sent equities and bond yields tumbling Friday weren't enough to boost gold's haven appeal as the metal fell the most in 18 months. Geopolitical risks that previously supported prices are also fading after President Donald Trump met with North Korean leader Kim Jong Un. ...
... For the remainder of the report:
https://www.bloomberg.com/news/articles/2018-06-15/hedge-funds-pick-the-...
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