Money managers’ bullish bets on gold jump to four-year high
Money managers’ bullish wagers on gold jumped to the highest in more than four years as the precious metal registered successive highs after Federal Reserve’s first interest-rate cut since 2020. Hedge funds…
From the Lithium News archive. This article dates from Sep 27, 2024 and is preserved as first published.
Money managers’ bullish wagers on gold jumped to the highest in more than four years as the precious metal registered successive highs after Federal Reserve’s first interest-rate cut since 2020.
Hedge funds and other large speculators boosted net-long positions by 0.9% to 254,841 as of Sept. 24, the highest since March 2020, weekly US government data showed on Friday. 
The precious metal reached an all-time high of $2,685.58 an ounce this week, capping a series of record highs amid optimism of further rate reductions by the US central bank.
