Fund Managers: Gold Bottom Is In

The gold bottom is in. 

Fund managers Vs. Gold

Gold is close to the bottom. 

Fund Managers Vs. Gold

Fund managers think gold is fair value. 

Fund Managers' Gold Take

According to fund managers, gold should correct to $2700.

Pension Funds are All In on Bonds

There is no friggin way that interest rates will ever go back up because that would bankrupt pension funds.

Redemption of Paulson Advantage Funds

Zerohedge reminds us why gold has been falling the last several weeks.

Paulson's Advantage and Advantage Plus funds were said to be dumped by Morgan Stanley. And because 30% of Paulson's portfolio is in gold (GLD) and another huge percentage in gold mining stocks, this dragged down the gold market and more importantly the gold mining market. To see a recent filing go here.

I don't believe this is that significant though. Morgan Stanley clients only comprise $100 million of the combined $5.7 billion Advantage and Advantage Plus funds. That's 1.7% and not even worth mentioning. By the way, the clearing volume at the London exchange can be as much as $3.5 billion a day. So $100 million is nothing.

I wouldn't put too much thought in this. Paulson and Soros are still bullish as far as I can see.

(if I make mistakes in any numbers mentioned above, please tell me)