Amarc stock nearly doubles on gold-copper discovery at JOY project in British Columbia
Amarc's CEO called the AuRORA discovery "a significant inflection point" in the exploration of the JOY district with Freeport.
Money managers’ bullish wagers on gold fell to the lowest in nearly four months before a flare-up in the Russia-Ukraine war boosted its haven appeal.
Hedge funds and other large speculators reduced net-long positions by 3.6% to 190,324 contracts as of Nov. 19, the lowest in 15 weeks, weekly US government data showed on Friday.
The precious metal was under pressure in the weeks following the re-election of Donald Trump as the US dollar surged, weighing on commodities. Gold has since recouped those losses amid rising geopolitical tensions.
(By Yvonne Yue Li)
Read More: Gold price set for biggest weekly jump in 20 months on haven demand
Comments
carl johnson
Great article! It’s interesting to see how hedge funds are changing their gold positions with rising geopolitical tensions. Gold’s safe-haven appeal is clearly coming back. It will be interesting to see how it performs in the coming weeks with all the current tensions.