Hedge Funds Jump on Gold for Life Raft as Dollar Ship Sinks
- SPDR Gold sees biggest daily fund inflow in seven months
- Investors boost net-long position to highest since November
BofA’s Blanch Says Gold Relatively ‘Not Too Expensive’
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There’s no stopping the gold bulls.
Hedge funds increased their wagers on a gold rally to the highest since November, betting that this year’s 11 percent advance has more to go. Investors are also loading up on the metal through exchange-traded products, pouring $487 million into SPDR Gold Shares on Wednesday. That was the biggest daily inflow into the world’s top bullion ETF in seven months.