The managed money net combined gold positions jumped a whopping 140% to 86,672 contracts during the week ending May 19 with the short contracts declining 29% and the long contracts rising 26%. Still, the net positions only rose back to the level in early March. In India, the government has announced further details on its gold monetization scheme. The bigger news is China’s establishment of a new gold fund to raise about $16 billion to develop gold mining projects along the New Silk Road and to facilitate other central banks to purchase gold for their reserves."
at http://news.sharpspixley.com/article/rising-dollar-and-the-new-silk-road-gold-fund/231248/
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