Hedge funds’ bullish bets on gold jump to four-year high
Hedge funds and other large speculators boosted their net-long position in gold.
The gold audit petition is nine-days old and has 5,739 signatures as of 11 a.m. PST on Tuesday, and it needs 19,261 signatures by Feb. 8, 2013 to receive a formal response from an administration official.
The petition appears to be averaging roughly 825 signatories a day, and that was after a burst of media coverage.
With 23 days left, the gold audit will gather 18,975 if the average trend holds—that’s just 261 signatures short.
At least the organizers can be glad they got up the petition when they did. The White House has raised the bar from 25,000 to 100,000. The new limit only applies to petitions going forward.
The gold audit can still pass if it gets 25,000.
