Hedge funds slash bullish wagers on gold over Trump election win
Hedge funds and other large speculators boosted net-long positions by 11% to 197,362 as of Nov. 12, the lowest in 14 weeks.
The BBC has a beautiful 10 image gallery about the Centerra’s Kumtor gold mine in Kyrgyzstan and the mounting political pressure to nationalize the mine.
As gold continues to rise Zero Hedge wonders if nationalization will be a self-perpetuating cycle.
“The paradox is that the fewer actual global miners in operation, the better for the price of the actual hard commodity, as less supply means lower price, means greater probability of more miners suffering the same fate, means even higher gold price and so on.”
