BofA’s Hartnett Says Bets on Gold Are Rising Before US Election
- Precious metal seen as hedge against inflation and populism
- Gold hits a record as capital flows into the asset class
Photographer: Clark Hodgin/Bloomberg
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Investors are continuing to load up on gold ahead of the US election as a hedge against inflation and populism, according to strategists at Bank of America Corp.
The precious metal hit a record high on Wednesday and gold funds recorded their biggest weekly inflow since July 2020, a team led by Michael Hartnett wrote.