Futures & Commodities Update

Gold Traders Bearish for First Time in 2012: Commodities

Gold traders are bearish for the first time this year after the Federal Reserve signaled it may refrain from more monetary stimulus and jewelers in India, the world’s biggest bullion market, shut to protest a new tax.

Fifteen of 29 analysts surveyed by Bloomberg expect prices to decline next week and five were neutral, the highest proportion since Dec. 30. Imports by India may have plunged as much as 81 percent in March and could drop 40 percent in the second quarter, the Bombay Bullion Association said April 2. Indian jewelers, who sell more gold than Australian and U.S. mines produce in a year, were closed yesterday for a 19th day. Full story