by Luzi-Ann Javier
Gold bulls are acting as if they can’t believe a good thing when they see it.
They should’ve had more faith. Hedge funds reduced their wagers on a bullion rally for the first time in three weeks, just before prices neared a two-month high and capped a third straight week of gains.
Not even Federal Reserve Chair Janet Yellen’s outlook for higher U.S. interest rates has been enough to disrupt the gold party. Investors snapped up the metal as a store of value amid concern that President Donald Trump’s fiscal policies will bloat government debt. There’s also anxiety over anti-establishment candidates in this year’s elections in the Netherlands, France and Germany, who favor exiting the European Union.