Potentially higher US interest rates scaring Gold Bulls

Published: Sep 18, 2016 09:27

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Potential interest rates are having a definite impact on the gold as some bull have been scared out of the market.

UNITED STATES September 15 2016 11:29 PM

NEW YORK (Scrap Register): Potential interest rates are having a definite impact on the gold as some bull have been scared out of the market.

In an interview with Bloomberg, Ben Ross, a portfolio manager at Cohen & Steers, said that the firm is now only market-weight the yellow metal, down from its previous position of over-weight.

“Gold would get hit pretty hard in a rising rate environment. We’re market-weight right now, and the reason is the 10-year Treasury yield is starting to really move and being in gold scares us,” he said in the interview.

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