Mon, Jul 6, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Hedge funds increased net bet on higher gold prices during last week’s selloff

Monday, April 22, 2013

From Precy Dumlao, Opalesque Asia – Hedge funds are piling up on gold despite the drop in prices, data from the U.S. Commodity Futures Trading Commission (CFTC) showed, BusinessWeek reported.

Indeed, gold prices plunged the most in 33 years last week. Data from the CFTC showed that hedge fund managers and other speculators had raised their gold net long positions by 9.8% to 61,579 futures and options in the week ended April 16. "Money managers cut the number of bets on lower gold prices by 8.2% during the week ended Tuesday, and left their amount of bets on higher prices nearly unchanged," confirmed Dow Jones.

The move to raise wagers on gold gives speculations that hedge fund manager John Paulson is on his way to recover the money he lost on his gold bets.

Last week, it was estimated that Paulson had lost almost $1bn of his personal wealth after the price of gold crashed. Some 85% of the $9.5bn Paulson invested across his hedge funds was reportedly held in gold share classes. The precious metal plummeted 9.3% on Monday last week to take two-day losses to 13%, according to Bloomberg.

Dan Denbow, a fund manager at the $1bn USAA......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opalesque Exclusive: New systematic strategy managed alongside research firm outperforms S&P500[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: An emerging CTA manager explains how he runs his strategy, which is based on an index produced by a research firm. Peter Turk is head of

  2. Opalesque Exclusive: New systematic strategy embraces machine learning[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: The founder of a New York-based systematic trading firm, which offers a hybrid between alpha strategies and alternative feta at lower fees, describes his approa

  3. Larry Robbins' hedge fund Glenview buys 1m Tenet Healthcare shares[more]

    Komfie Manalo, Opalesque Asia: Glenview Capital Management said it bought an additional 979,482 shares at Tenet Healthcare Corp valued at $53.80 million, raising its stakes in the healthcare services company to 15.16%, reported

  4. Legal - Grayson’s hedge funds under scrutiny for possible ethics violations, Court rejects hedge fund’s motion to block merger of Samsung affiliates[more]

    Grayson’s hedge funds under scrutiny for possible ethics violations From Freebeacon.com: Rep. Alan Grayson is finding himself in hot water over managing hedge funds that bear his name, actions that are in possible violation of House ethics rules. Sitting members of Congress are prohibite

  5. Hedge funds decline in June as stocks tumble on Greek woes[more]

    From Bloomberg.com: Hedge funds posted losses across strategies last month as uncertainty over whether Greece will remain in the euro sent global stock markets tumbling. Winton Capital Management declined about 3.1 percent in June in its $12.1 billion Winton Futures Fund, leaving it down 1.9 percent

 

banner