Gold Traders Prepare for Rally on Bets Fed Will Wait to Move
- Open interest in futures rises to highest since November 2012
- Tally of contracts outstanding climbs as long wagers increase
Gold Tries to Snap a Three Day Losing Streak
This article is for subscribers only.
If you’re looking for a sign on what gold investors are expecting from this week’s Federal Reserve meeting, look no further than open interest.
The measure, a tally of outstanding contracts, shows traders are holding more gold futures than at any time since 2012. It suggests investors are readying for a rally, expecting the Fed to signal this week that interest rates will stay low for longer, said George Gero, a vice president of global futures at RBC Capital Markets in New York.