Thu, Aug 17, 2017
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: Albright Capital puts a value lens on emerging markets[more]

    Bailey McCann, Opalesque New York: Over the past decade, investors have steadily increased investments in emerging markets private funds. Allocations to the cohort have increased from $93 billion in December 2006 to $564 billion in September 2016, according to data from research firm Preqin. Howe

  2. Comment: "Long-Term Investing": What managing drawdown risk can do to your long-term returns[more]

    Matthias Knab, Opalesque: Real Investment Advice writes on Harvest Exchange: Last week, I was having lunch with a prospective portfolio management client discussing the curre

  3. Jasper Capital International joins Hedge Fund Standards Board[more]

    Komfie Manalo, Opalesque Asia: Diversified and systematic investment firm Jasper Capital International has become the second China-based signatory to the Hedge Fund Standards Board (HFSB), an organization that brings hedge fund managers and investors together to set standards for the hedge fund i

  4. Other Voices: Crisis risk offset; about time?[more]

    This article was authored by Russell Barlow, global head of hedge fund solutions at London-based Aberdeen Asset Management. Like the ubiquitous force of gravity, when financial markets rise they must fall. The quest

  5. Investing - Hedge-fund honchos including David Tepper are loading up on Alibaba, Billionaire hedge fund manager Stanley Druckenmiller is betting big on the Chinese consumer, Big-name U.S. hedge funds shed healthcare stocks during the rally in second-quarter, U.S. hedge funds bearish on FAANG stocks in second-quarter, Hedge fund titan Viking Global made a $680 million bet on scandal-plagued Wells Fargo[more]

    Hedge-fund honchos including David Tepper are loading up on Alibaba From CNBC.com: David Tepper's Appaloosa Management and three other he ge funds took new stakes in Chinese e-commerce giant Alibaba in the second quarter, according to the latest quarterly filings. Appaloosa disclos