Neither industrial metal nor an official currency, the gold commodity is an asset investors have come to either love or hate.
The yellow metal is trading near $1,430 an ounce, down 25% from a record high of $1,920 in September 2011.
More hedge funds are selling short the yellow metal while other investors are getting out of their long positions. Holdings in exchange-traded funds backed by gold bullion are at their lowest level since July 2011, according to Bloomberg.
But Blackrock, the world’s largest money manager, is still buying gold, according to its president Robert Kapito and billionaire John Paulson continues to stick with gold despite a 27% loss in his gold fund in April. His company is the biggest investor in the SPDR Gold Trust (GLD). And gold demand in China and India is still strong.
Brian Sullivan, host of Talking Numbers, a joint production fromRead More »from Gold Prices ‘Still Very Inflated’: Talking Numbers’ Brian Sullivan