Hedge funds slash bullish wagers on gold over Trump election win
Hedge funds and other large speculators boosted net-long positions by 11% to 197,362 as of Nov. 12, the lowest in 14 weeks.
Barrick Gold (NYSE: GOLD) (TSX: ABX) has welcomed a new addition to its board, naming Anne Kabagambe as an independent director.
Kabagambe is a former executive director of the World Bank Group where she served from 2016 to 2020, representing the interests of 22 Sub-Saharan African countries. These include Tanzania and Zambia, where Barrick has gold and copper operations.
While at the World Bank, she sat on the Development Effectiveness Committee, the Budget Committee and the Pension Benefits Committee. She also co-chaired the World Bank board’s gender working group, and is a strong advocate for the advancement of women and a champion of diversity and inclusion.
Prior to the World Bank, Kabagambe spent 27 years at the African Development Bank, where she built an extensive network within Africa and other parts of the world. During this time, she helped develop cooperative agreements with Asian countries and held the position of Chief of Staff for the African Development Bank President.
She has also served on the boards of the Africa American Institute (AAI) and Junior Achievement (JA) Africa.
Barrick executive chairman John Thornton said Kabagambe’s addition would “strengthen the board and bring an independent understanding of doing business internationally, informed by her experience in engaging with governments, the private sector and civil society and in particular her knowledge of the global resource, banking and education sectors.”
