Hedge funds go all in on gold as ‘currency wars’ lift haven buys

Bloomberg/Justina Vasquez

Graphic image of gold anchor“Gold’s spectacular rally is just getting started if hedge funds have their way. Prices are already at the highest in more than six years, and Goldman Sachs Group Inc. and Citigroup Inc. predict bullion could climb about 6% to $1,600 an ounce in as little as six months. Money managers are going all in, raising their wagers on a rally to the highest since 2016.”

USAGOLD note:  We have reported consistently on institutional accumulation of gold over the past several months.  This report provides an update of the trend.  It is alive and well on Wall Street and tells why some of the larger institutions are predicting even better days ahead.

Re-post 8-12-2019

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