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Hedge funds add to their bullish gold bets, but rally appears to be losing some steam

From kitco.com

For the seventh consecutive week, hedge funds continued to pile into gold, according to the latest trade data from the Commodity Futures Trading Commission. According to some analysts, the gold market continues to benefit from shifting U.S. interest rate expectations, which is weakening the U.S. dollar. Markets currently expect the Federal Reserve to further slow down the pace of its rate hikes with a 25 basis point move next month. An expected end to the Federal Reserve's aggressive tightening cycle has pushed the U.S. dollar index to a seven-month low. At the same time, gold prices are trading near a nine-month ... (full story)

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  • Category: Fundamental Analysis