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Hedge funds increased bets on a gold rally by the most in three weeks as central banks signaled no end to economic stimulus, driving prices higher just as analysts and traders turned the most bearish in three years. The funds and other large speculators raised their net-longposition by 19 percent to 54,762 futures and options as [...]
Hedge funds increased bets on gold rallying after prices plunged the most in 33 years, underscoring billionaire John Paulson’s view that bullion will rebound. Fund managers and other speculators increased net-longpositions in gold by 9.8 percent to 61,579 futures and options in the week ended April 16, U.S. Commodity Futures Trading Commission data show. Investors turned bullish on [...]
Yesterday, it was revealed that fund manager BlackRock had used the recent plunge in the gold price to go bottom fishing in Randgold Resources. The manager spent about £4m to bring its stake back above 14pc. The recent collapse in precious metals prices sent gold equities plunging. Gold entered a bear market last week, with [...]
Barrick Gold Corp (ABX.TO), making a painful adjustment to a sustained slump in bullion prices, said on Wednesday it was scaling back capital spending and reported progress in controlling costs, sending its shares higher. The world’s No. 1 gold producer also warned that it could suspend development at its largest new project, Pascua-Lama, after a [...]
South African stocks ended mostly flat on Wednesday as gains by resource producers including Harmony Gold offset declines from a mixed bag of companies that reported disappointing earnings. Agricultural services company Afgri was one of the biggest losers on the broad All-Share index, sliding nearly 6 percent to 4.80 rand after it warned full-year earnings would likely fall by as [...]
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