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Gold futures settled at a record high above $2,400 an ounce this week. The precious metal is coming off its third straight week of gains. Gold is often used as an inflation hedge because of its limited supply. @GC.1 YTD mountain Gold Professional speculators' net-long positions in gold futures and options hovered near the highest level since 2020 as of April 9, according to the Commodity Futures Trading Commission's latest data. The hedge fund star revealed that not only did he own the popular SPDR Gold Trust fund (GLD), but he also bought physical bars.
Persons: James Steel, David Neuhauser, Neuhauser, Greenlight Capital's David Einhorn, Einhorn Organizations: Citi, Investors, HSBC Securities, Gold, Commodity, Livermore Partners, CNBC, Trust, Deutsche Bank Locations: Northbrook , Illinois
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'Simultaneous events' of both gold and the U.S. dollar earlier this week were unusual, HSBC saysJames Steel of the bank gives its upside target for gold this year.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGold is getting more expensive for consumers, which could 'curb the rally': HSBCJames Steel of the bank says if the U.S. Federal Reserve doesn't cut interest rates in the second half of the year, that could "take some of the oxygen away from the gold market."
The supply of gold has been gradually edging higher, HSBC says
  + stars: | 2023-01-05 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe supply of gold has been gradually edging higher, HSBC saysJames Steel of the bank says "production is certainly rising" but the increase has become more "modest."
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