Gold Losses Not Quite Steep Enough for Bearish Hedge Funds
- Money managers hold biggest bullion net-short position ever
- Prices slumped 10% in 2015; Goldman, SocGen stay bearish
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The longest losing streak for gold since 1998 isn’t quite enough for some investors, with hedge funds making record bets that prices will continue to fall.
Money managers are anticipating a deeper slump, holding a net-short position in the metal for seven straight weeks and expanding their wager to the most-bearish ever. The moves come after prices slumped 10 percent in 2015, capping a third consecutive annual loss.