Hedge Funds Go All In on Gold as ‘Currency Wars’ Lift Haven Buys
- Bullish wagers hit three-year high as Goldman, Citi see gains
- Holdings in bullion-backed ETFs are largest since 2013
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Gold’s spectacular rally is just getting started if hedge funds have their way.
Prices are already at the highest in more than six years, and Goldman Sachs Group Inc. and Citigroup Inc. predict bullion could climb about 6% to $1,600 an ounce in as little as six months. Money managers are going all in, raising their wagers on a rally to the highest since 2016.