LONDON, 20 June 2016 – Ahead of Thursday's UK referendum on leaving the EU, hedge funds and other speculators are betting more heavily than ever that the price of gold will go up says the Financial Times today, quoting analysis and comment from BullionVault.
Noting the biggest net long position in Comex gold futures for 4 years, the FT says that "adding in options contracts on gold, the total amount of money betting on a gold price rise is at a record," citing BullionVault analysis.
"There's a lot of hot money going into gold," the FT quotes Adrian Ash, head of research at BullionVault, because futures and options "[offer a] very cheap way of taking a hedge on what is going to be a very volatile event."
FT subscribers will find the full article here:
