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Hedge Funds Turned Record Short On Metals Just Before The Rout

by juniorminingnews.com posted 9months ago 48 views
By Bloomberg News Commodity markets have gone haywire — and hedge funds with picture-perfect timing are set to rake in stellar profits. As U.S.-China trade tensions escalated mid-June, fast-money traders flipped to a short position in metals overall, subsequently extending bearish wagers to a record coming into the maelstrom of the past few days. Hedge funds’ net position stood at a negative 51 percent in precious metals and negative 37 percent in base metals as of Tuesday, according to Credit Suisse Group AG prime services.

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