Hedge Funds Hurt in April by Gold Decline

Gold declined another 6.5 percent since its great fall on April 15. Yesterday gold futures were volatile, after an initial loss in the day, the shares suddenly jumped up and closed up 3.12 percent. However today again they are back on the downward slope, SPDR Gold Trust (ETF) (NYSEARCA:GLD) is trading down 2 percent for now. The unexpected detraction in this safe haven asset and the corresponding positioning of hedge fund trades is something we have discussed back in April and now we are going to look at it again as April performance numbers have started trickling in from these funds….