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April 07, 2006
Heavy hedge fund buying pushes up bullion prices
Bullion prices are all set to hit the roof thanks to heavy buying by hedge funds. Traders are looking at gold prices hitting the $600 an ounce mark while silver prices may top $12 an ounce very soon. While hedge fund investors have nothing to worry about with bullion investments being always a 'safe haven', gold and silver traders across the world, especially those in India are making hay while the sun shines. While gold prices rose by 20 per cent last week, silver too posted massive gains, rising almost 14 per cent. business-standard.com reports:
Traders said hedge funds are attracted to precious metals largely because they offer higher rates of return compared with other forms of investment – such as currency or bonds.
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