Which US presidential candidate does gold prefer?
Gold loves chaos and should be hitting new highs, especially with inflation coming down and with it, two rate cuts likely before year’s end.
Hedge funds and money managers boosted bullish bets on gold to the highest in four years as prices of the precious metal reached a series of peaks.
Their net-long positions in US bullion futures and options surged 13% in the week ended April 2 to the highest since 2020, according to Commodity Futures Trading Commission data released Friday.
Bets on the Federal Reserve’s pivot to easing has kept bullion mostly above $2,000 for months, setting the stage for the recent record run marked by outsized moves.
(By Yvonne Yue Li)
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