Hedge funds raise bullish gold bets to 2-year high
MINING.com - Jan 27, 2015
Profit taking returned to the gold market on Monday following three weeks in a row of gains, but not before a massive change in sentiment from large investors in gold.
In healthy volumes during lunchtime trade on the Comex division of the New York Mercantile Exchange, gold futures for February delivery – the most active contract – hit $1,279.70 an ounce, down $12.60 or nearly 1% from Friday's close.
Silver's stellar run also came to a halt on Monday with March contracts falling nearly 2% to below $18.00 an ounce.
Despite Monday's pullback there appears to be a definite shift in sentiment this year after two annual declines in the price with large investors like hedge funds – so-called "managed money" – catching up with gold's 7.5% and silver's 13% rise this year.
