Hedge funds’ bullish bets on gold jump to four-year high
Hedge funds and other large speculators boosted their net-long position in gold.
LONDON – The World Gold Council (WGC) said on Wednesday it would appoint David Tait, an investment banker and member of the Bank of England’s market standards board, as chief executive from next year.
Tait will take over in February from Aram Shishmanian, the council’s CEO for the last decade, the WGC said.
Tait’s career in banking has included stints at Credit Suisse, UBS and Goldman Sachs as well as several investment funds, according to the WGC.
The World Gold Council is funded by gold mining companies and aims to expand demand for gold.
(By Peter Hobson; Editing by Edmund Blair)
