Short covering drives gold prices as bullish hedge funds mostly sit on the sidelines

Editor’s Note: With so much market volatility, keep up with the daily news! In just a few minutes, get caught up in our quick recap of today’s top news and expert insights. Sign up here!

(Kitco News) – As expected, hedge funds have significantly reduced their short bets in gold but are reluctant to take any major bullish positions, according to the latest data from the Commodity Futures Trading Commission.

Last week, gold prices staged an impressive short-covering rally that…