Glimmers of global optimism are casting a pall over gold. J.P. Morgan Securities unwound its gold hedge because of “signs of a cyclical recovery, easing geopolitical tensions, synchronized monetary easing,” the bank’s asset-allocation team said Thursday. Citigroup Inc. strategists abandoned a long position in gold, in their asset-allocation note Thursday. Earlier in the week, money managers boosted their bearish wagers on the metal. Recent geopolitical and economic concerns had underpinned demand for the metal as a haven asset -- until this week. That was reversed by less-negative signs for the global economy, a ... (full story)