LONDON, 12 July 2016 – The surging gold price has been 2016's biggest investment story so far says BullionVault head of research Adrian Ash, speaking live today to Money Control's CNBC TV-18 news channel – India's No.1 financial news portal.
"When we started 2016 gold was cheap, gold was hated, it was a very anti-consensus play," says Adrian, speaking to Manisha Gupta, CNBC TV-18's commodity editor.
"It's now become a big momentum trade," he explains, pointing to ETF holdings and most particularly US Comex futures and options betting, where speculation by hedge funds is now setting new all-time record highs.
"These guys were short gold at Christmas when it was cheap."
The outlook for further managed-money speculation now depends on how the broader political news develops, Adrian says, highlighting the coming US presidential election in November.
You can watch Adrian's full interview at Money Control here:
