SUBSCRIBERS
Hedge funds flee to gold for life raft as dollar ship sinks
Published Mon, Apr 24, 2017 · 09:50 PM
New York
THERE'S no stopping the gold bulls.
Hedge funds increased their wagers on a gold rally to the highest since November, betting that this year's 12 per cent advance has more to go. Investors are also loading up on the metal through exchange-traded products, pouring US$487 million into SPDR Gold Shares on Wednesday. That was the biggest daily inflow into the world's top bullion ETF in seven months.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
India's Vedanta misses Q4 profit estimates on lower prices
BHP targets Anglo American in bid valuing miner at US$39 billion
China's Sinopec charts global expansion with refinery in rival India's backyard
Gold trades in tight range as market focuses on US economic data
Oil settles lower as US business activity cools, concerns over Middle East ease
Orsted says Taiwan wind project to power TSMC on track for 2025 finish