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)
