Hedge funds are the most bullish on gold in more than two years, betting the metal’s allure will strengthen as slowing economies in Europe and Asia threaten U.S. expansion.
Speculators increased their net-long position by 80 percent this year, U.S. government data show. The U.S. economy expanded at a slower-than-forecast pace in the fourth quarter and Federal Reserve officials acknowledged global risks at the end of their policy meeting last week.
