Silver Posts Longest Slump in 8 Months as Citigroup Flags Risks
- Money managers boosted net-long silver positions to record
- Prices seen dropping in second half of 2016, Citigroup says
Brexit Altering the Landscape for Gold: BofA's Blanch
This article is for subscribers only.
Silver fell for a fourth straight session, the longest slump in more than eight months, as Citigroup Inc. said investor demand for the metal may sputter in the second half of the year.
While funds have boosted their net-long positions on silver futures and options to a record as prices surged this year, “performance anxiety and profit-taking ahead of the summer holiday season may deter money managers from adding fresh longs,” Citigroup said in a report Tuesday. Limited gains in gold may also weigh on silver, the bank said.