Safe-haven buying is helping push gold to a new high, with futures +1.25% to $1,420.70. Some analysts think the metal could hit $1,500/oz. by the end of the year.
Risk appetite is starting to recover, as hedge funds saw their collective assets climb to more than $1.6T last month, the highest level in more than two years. Not everyone is sharing in the rebound: a sample study suggests quant funds may have lost nearly half their assets since 2007 after failing to capture swings in the market.
China has initialized defensive moves against QEII ...
SHANGHAI/BEIJING (Reuters) - China signaled its intention on Tuesday to drain excess cash from its financial system by unexpectedly raising the yield on bills at a central bank auction and announcing new rules to curb hot money inflows.