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Money Managers Trim Bearish Gold Position But May Have Gone Back

From kitco.com

Money managers trimmed their bearish positioning in gold during the most recent reporting week for data compiled by the Commodity Futures Trading Commission, although these accounts have likely reversed course since and are accumulating bearish positions again, analysts said. During the week-long period to Nov. 6 covered by the report, Comex December gold gained $1 to $1,226.30 an ounce, while December silver climbed 3.8 cents to $14.50. Since Nov. 6, however, both metals have fallen again, which is why observers say speculators may have again become more pessimistic on prices. As of 9:39 a.m. EST, December gold was ... (full story)

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  • Category: Fundamental Analysis