Cash managers’ wagers in gold jumped to the best stage in 4 years, signaling investor issues surrounding the US presidential election marketing campaign in addition to renewed concentrate on the timing of Federal Reserve interest-rate cuts.
Hedge funds and different massive speculators boosted their net-long place in gold, typically used as a hedge in opposition to rising political and financial uncertainty, to the best in additional than 4 years as of July 16, weekly US authorities information printed Friday confirmed.