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Biggest money managers are flocking to gold as inflation fears intensify
By Yun Li
CNBC, New York
Thursday, April 18, 2024
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. ...
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