Going long on gold second most crowded trade globally, says BofA Securities

Among those surveyed, 46 per cent believed equity markets are in a bull phase, while a net 79 per cent expect a stronger global economy over the next year

Going long on gold is the second most crowded trade among global fund managers with 23 per cent of those surveyed bullish on the yellow metal, suggest the findings of BofA Securities August Fund Manager Survey (FMS) released on August 18. Thus far in calendar year 2020 (CY20), gold prices have moved up nearly 30 per cent (YTD) and 38 per cent in the past one year, data from World Gold Council show.

 

Going long on US technology stocks topped was the most crowded trade among global fund managers in August with 59 per cent of those