Hedge Funds Join the Rush to Stock Up on Gold
Saturday, July 17, 2010 12:01
Hedge funds would send the most junior analyst to the seminars that bullion bankers hosted not so long ago. Gold, on the other hand, was the ultimate dreary assert or interest only to central bankers and miners for much of the past two decades.
However, now, the same bankers are struggling to find time in their diaries to fit in many of the hedge fund industry’s biggest player. In mid-town New York, funds that employ only 100 staff are finding themselves with gold holdings larger than those of some developed nations.
It is argued that recent swelling of the monetary base will translate into a spike in monetary supply. And when it does, the gold prices will follow. But not all of the clients of headge fund are completely convinced.
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