The Traderszone Network

Published in TZ Latest News 25 August, 2014 by The TZ Newswire Staff

Speculators lower gold bull wagers on U.S. rate outlook

Investors are exiting the gold market on speculation that signs of sustained U.S. Hedge funds reduced their bullish gold bets for the third time in four weeks, and open interest in New York futures and options are near the lowest in five years, U.S. Federal Reserve Chair Janet Yellen said Aug. 22 that if economic progress “continues to be more rapid than anticipated,” an interest-rate increase could come sooner than currently expected. Bullion tumbled 28 percent last year as the central bank started reducing bond buying.