Reported 5 months ago
Money managers have become the most bullish on gold in over four years as prices hit a record high, with hedge funds and speculators increasing their net-long position in Comex futures and options by 21,030 contracts. Despite seeing a decline in prices after reaching a record, gold is still up 13% for the year due to factors like central bank purchases, strong demand in Asia, and geopolitical tensions in regions like Ukraine and the Middle East that highlight its safe-haven appeal.
Source: YAHOO