Gold and Silver Defy Odds, Hold Support Despite Investor Exodus on Inflation Worries
• Gold and silver prices defy odds by holding support despite hedge funds ditching positions due to inflation fears
• Speculative trading data shows $6.9B exited gold last week as funds cut bullish bets and increased shorts
• Gold vulnerable to corrections but seen finding support around $2,000 amid robust Asian retail demand
• Silver struggles on rate hike outlook but bounces off lows and could start to outperform gold
• Analysts say markets under-positioned for Fed rate cuts, setting up conditions for a short squeeze in gold