(Bloomberg) Unlike most of the world, gold investors got it right when it came time to betting on the Brexit vote. They were rewarded with a world-beating rally. Hedge funds boosted their bets on price gains for bullion to an all-time high just two days before U.K. voters took to the polls and decided to leave the European Union, sending global markets roiling. Gold futures climbed to a two-year high after the referendum. The metal’s wild ride isn’t over yet. Prices could jump another 7.7 percent by the end of the year, a Bloomberg survey showed.
Hedge Funds Win World-Beating Rally With Record Gold Holdings
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