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Category: The Metals Markets

Hedge funds close, blame computer trading

Anthony Ward, famed London commodities trader, closed shop after nearly forty years of trading.  His reason: he couldn’t keep up with computer trading. According to Reuters, Ward blamed the rise of computer-driven funds and high-frequency trading.  Other well-known commodities investors also threw in the towel.  They are now looking for opportunities where machines can’t make

Germany repatriates its gold, at least some of it

Last week Germany’s central bank pompously announced that it had completed its repatriation of $31 billion in gold from Paris and New York, ridiculing earlier speculation that the gold had somehow been compromised.  A widely circulated theory was that Germany’s gold had been borrowed by bullion houses and delivered against futures contracts that were sold

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