Hedge Funds Are Shorting Gold Target Miners as the Price Falls

Hedge Funds are stacking up and opening new short positions in metal mining sectors with new found enthusiasm. It seems the recent drop in gold and silver has worsened the existing bearish stance on the metal sector and new shorts in gold mining sectors are popping up. One of the reasons said for gold’s decline was the fear that Cyprus would sell its gold reserves which is ironic since gold lost $1 trillion over rumors of Cyprus selling merely $500 million worth of bullions. TT International opened a new short position in 0.52 percent of African Barrick Gold PLC (LON:ABG) on…