Gold Goes Nowhere as September Rate Risk Causes Jitters: ChartBy
This year’s gold rally is showing signs of fatigue. Asset manager Cohen & Steers Capital Management has pared its allocation to bullion, while hedge funds cut their net-long positions in gold futures and options at the fastest pace since May on concern that a surprise interest-rate increase by the Federal Reserve this week could trigger a sell-off. Even disappointing U.S. economic data failed to give a boost, as losses last week wiped out the metal’s third-quarter gains.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- These Guys Want to Lend You Money Against Your Bitcoin
- Fed Raises Rates, Eyes Three 2018 Hikes as Yellen Era Nears End
- This Electric Truck Will Probably Beat Tesla’s to Market
- Bitcoin Points Way to ‘Massive Change’ for Commodity Businesses
- Famed Short-Seller Jim Chanos Says Tesla Headed for ‘Brick Wall’