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

Likely extended on gold is the second most crowded trade among the world fund managers with 23 for each cent of people surveyed bullish on the yellow metallic, suggest the conclusions of BofA Securities August Fund Manager Survey (FMS) launched on August 18. Hence significantly in calendar year 2020 (CY20), gold costs have moved up nearly 30 for each cent and 38 for each cent in the previous a single year, data from Globe Gold Council demonstrate.

Likely extended on US engineering shares topped was the most crowded trade among the world fund managers in August with fifty nine for each cent of people surveyed globally bullish on this asset class. Shockingly, 31 for each cent of fund managers surveyed by BofA Securities consider gold is overvalued. Amid people surveyed, 46 for each cent considered fairness markets are in a bull period, while a net 79 for each cent assume

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