Economics
Global Chaos Makes Gold a Holiday Winner for Hedge Funds
- Investors boost net-bullish bets to highest in six months
- ETF flows climb, while open interest for futures rebounds
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Forget frankincense or myrrh -- chaos in global markets makes gold the holiday asset hedge funds are getting behind.
Money managers are the most bullish they’ve been on bullion in half a year amid a multitude of threats that could slow economic growth and deepen the plunge for equities. As financial anxieties heighten, investors have poured about $1.56 billion into exchange-traded funds backing precious metals over the past month, the biggest inflows among commodity ETFs. Open interest for gold futures is also on the rise.