Hedge Funds’ Bullish Gold Bets Defy Goldman Outlook: Commodities
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Hedge funds are the most bullish on gold since August, defying Goldman Sachs Group Inc.’s prediction that the rally in prices will fade.
The net-long position in New York futures and options climbed for a fourth week, the longest stretch of increases since July, government data show. Futures jumped 2.7 percent last week, the most since June, as a plunge in global equities erased about $2 trillion from the value of stocks.