Hedge funds and other money managers have been stepping up wagers on gold as the bullion reached a series of new highs on the back of reaccelerating inflation. Overweighting precious metals has become the consensus among the largest money managers, with 83% of them being long the asset class, a new Citi analysis of top investors overseeing more than $18 trillion showed. The study also found that gold is the only commodity that big allocators added to over the past month.
David Neuhauser, founder of Northbrook, Illinois-based hedge fund Livermore Partners, told CNBC that he has increased his weighting in gold to over 20% recently, and that includes gold miner stocks and the yellow metal itself. "With inflation well above trend and being extremely sticky, it doesn't take a rocket scientist to figure out that gold could serve in a great capacity," Neuhauser said in a phone interview.
SPDR Gold Shares Gold COMEX (Apr'23) Markets Stock Markets Wall Street Investment Strategy Breaking News: Business Breaking News: Investing Breaking News: Markets Business News
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
How HSBC Transformed Its Customer Experience - SPONSOR CONTENT FROM HSBCSponsor content from HSBC.
Source: HarvardBiz - 🏆 310. / 63 Read more »
US Steel-Nippon Steel: A global deal for American prosperityAs meddling in the dealings of successful companies increases, the American economy will suffer the creeping statism that has hamstrung so many European economies.
Source: ladailynews - 🏆 332. / 59 Read more »
U.S. Steel Shareholders Approve Controversial Takeover by Nippon SteelU.S. Steel shareholders have voted to approve the $14.1 billion takeover by Japanese-owned Nippon Steel, with over 98% of the shares voting in favor. The merger is expected to strengthen the domestic steel industry.
Source: FoxBusiness - 🏆 458. / 53 Read more »
U.S. Steel Shareholders Approve Takeover by Japan's Nippon Steel Opposed by Biden AdministrationU.S. Steel shareholders have overwhelmingly approved the company's sale to Nippon Steel of Japan for $14.1 billion in cash, despite opposition from the Biden administration on economic and national security grounds.
Source: WashTimes - 🏆 235. / 63 Read more »
US Steel shareholders approve takeover by Japan's Nippon Steel opposed by Biden administrationU.S. Steel shareholders have overwhelmingly approved the firm’s sale to Nippon Steel of Japan for $14.1 billion in cash, voicing unequivocal support for a combination that has drawn opposition from the Biden administration on economic and national security grounds.
Source: ksatnews - 🏆 442. / 53 Read more »
US Steel shareholders approve takeover by Japan's Nippon Steel opposed by Biden administrationU.S. Steel shareholders have overwhelmingly approved the firm’s sale to Nippon Steel of Japan for $14.1 billion in cash, voicing unequivocal support for a combination that has drawn opposition from the Biden administration on economic and national security grounds.
Source: wjxt4 - 🏆 246. / 63 Read more »