Money managers are fleeing bullish bets on silver, this year’s worst-performing precious metal. Hedge funds and other large speculators cut their long position in silver futures and options for a sixth straight week in the longest string of declines since August 2014, U.S. government data Friday showed. The commodity has dropped 3.5 percent this year, bearing the brunt of concerns over rising bond yields and prospects for higher U.S. interest rates that curb the appeal of non-interest-bearing assets such as precious metals.
Source: Bloomberg Pro Terminal
Trader Bozhidar Arabadzhiev
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