Gold Posts Longest Losing Streak Since 2013 as Bears Crush Bulls
- Index of gold miners set for longest losing streak since 2015
- Precious metal is losing out as investors favor U.S. currency
This article is for subscribers only.
Gold posted a fourth straight monthly decline, the longest stretch of losses since 2013, as more signs of U.S. economic strength bolster the case to raise interest rates and dollar gains make bullion pricier in other currencies.
With holdings in exchange-traded funds shrinking, investors have been building bets on further price declines. As of last week, money managers held the biggest net-short position in futures and options in records going back to 2006. A measure of gold volatility is near the lowest since January.