CHART OF THE DAY: Hedge Funds Are Still Crazy About Gold

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There’s been talk that hedge funds and other institutional investors have been selling gold (and indeed the recent weakness in the metal may be indicative of heavy selling) but the bottom line is that hedge funds still love it.

According to Bank of America, the trade was actually most crowded late in 2009/early in 2010 but on net they’re still clearly in the long zone.

chart of the day, net positions gold futures, jan 2011

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