Hedge funds flee to gold for life raft as dollar ship sinks

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.