Mining.com: Funds are most bullish on gold in four years as prices hit record
https://www.mining.com/web/funds-are-most-bullish-on-gold-in-four-years-as-prices-hit-record/
Stock image.
Money managers became the most bullish on gold in more than four years as prices surged to a fresh record earlier this week.
Hedge funds and other large speculators boosted their net-long position in Comex futures and options by 21,030 contracts in the week through May 21, according to US government data. That’s the highest since mid-April 2020.
Investors have been cashing in after Monday’s record, with the precious metal heading for its worst week this year. Still bullion is up 13% this year on the back of central-bank purchases, robust demand in Asia and conflicts in Ukraine and the Middle East that underscore its haven status.
(By Yvonne Yue Li)
Related Posts
Tags
Share This
