, Columnist
Gold's Crumbling Bedrock
A dash by funds to hedge political uncertainty is no guide to price movements.
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Hedge funds are piling into gold. That's great for gold, right?
Not necessarily. It's certainly true that investors are increasing the stakes in their wager on rising prices. Funds' net long position in Comex gold futures rose 26 percent over the two weeks through Nov. 1 to 172,532 contracts, the sharpest such climb since the period that ended June 21.