It has been uncommon for gold to score single-digit percentage moves either way over the last decade; we see 2014 being an exception. Gold could be described as the 'Marmite' asset class — investors love it or hate it.
Keith Schaefer has built an impressive track record of foreseeing structural changes in the energy industry. Schaefer knows when to take or refuse opportunities in the volatile ethanol industry. And he knows how to bide his time while waiting for catalytic moments.
There are two main indexes tracked by commodity tracker funds: The S&P-Goldman Sachs Commodities Index and the Dow Jones UBS Commodities Index. Assessing the likely impact of these passive longs on Comex throws a new light on the record level of Managed Money short positions.
With Janet Yellen confirmed as the new Fed chairman, gold is now focused on the different economic trajectories of the various major economies. The U.S. is strengthening while the U.K. is trying to cool off its hot housing market.