Talks to address the US fiscal cliff — which threatens to hike taxes and slash government spending on January 1 — are shaking up financial markets around the globe. Here’s how you should respond.
Gold – Reuters reported that Paulson & Co. significantly cut holdings of the SPDR Gold Trust during the fourth quarter.
Gold – CFTC data suggests that hedge funds are holding their biggest bet on higher prices since mid-September. Money managers raised their combined net-long position in US futures and options by 6.8 percent to 148,279 contracts in the week ended Nov. 1.
Gold – Bloomberg reported that calls for gold ETFs have increased the most since early August 2011.
Gold – Bloomberg reported on how the SPDR Gold Trust has affected investment activity.
Gold – Investors looked to the political crisis in Egypt as a sign that gold would skyrocket as a result of volatility in the international market.
Gold – While it’s not what many gold investors want to hear, there is a growing chorus of consensus that gold is not trading off fundamentals and that in fact the recent price rally is merely momentum driven.
Gold – Gold prices traditionally rally off the summer lows in September as many players come back to the market. And if this year holds true to that seasonality, next month might turn out to be “a good September.”
Gold – ETFs have generated interest among investors, who purchased $277 billion of commodity ETFs and related securities by the end of 2009, attracted primarily to the potential of low costs, stock-like features and relative tax efficiency as well as profiting from exposure to raw materials’ global demand.
Gold Investing News reports gold price recovers as the dollar rose. Spot gold rose to $913.15/$914.15 an ounce from $906.65 late in New York on Wednesday. Canadian stocks gained too, building on their biggest rally since November, as mining companies rose with gold prices and financial stocks rallied for a second day on speculation that [...]
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