Political infighting in the United States and renewed debt concerns in Europe…
Just like in August 2011, that’s all it took to spark a 200-point, single-day plunge for the stock market and put a fire under the so-called 'fear index'.
According to Goldman Sachs’ (GS) latest analysis of 13-F filings, hedge funds dumped their holdings in the most popular gold ETF, the SPDR Gold Trust (GLD). Even George Soros got in on the action.
Net-net, hedge fund exposure to gold via the ETF is down more than 50% over the last six months.
Speaking of gold, Fed Chairman Ben Bernanke got into a heated exchange with Senator Bob Corker (R-TN).
At one point he boasted, “My inflation record is the best of any Federal Reserve chairman in the post-war period, or at least one of the best.”
As Bespoke Investment Group points out, the price of gold has increased over 180% under Bernanke’s leadership, which “is more than double the return of gold under any of his three predecessors.”
Just like in August 2011, that’s all it took to spark a 200-point, single-day plunge for the stock market and put a fire under the so-called 'fear index'.
According to Goldman Sachs’ (GS) latest analysis of 13-F filings, hedge funds dumped their holdings in the most popular gold ETF, the SPDR Gold Trust (GLD). Even George Soros got in on the action.
Net-net, hedge fund exposure to gold via the ETF is down more than 50% over the last six months.
Speaking of gold, Fed Chairman Ben Bernanke got into a heated exchange with Senator Bob Corker (R-TN).
At one point he boasted, “My inflation record is the best of any Federal Reserve chairman in the post-war period, or at least one of the best.”
As Bespoke Investment Group points out, the price of gold has increased over 180% under Bernanke’s leadership, which “is more than double the return of gold under any of his three predecessors.”