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20

Hedge Funds Embrace Copper’s Wild Ride

By Tony Seruga

Money managers boost bets on rally to largest on record
Goldman says recent rally for metal was too far, too fast

The biggest copper rally in almost six years is leaving hedge funds squaring off with Goldman Sachs Group Inc.

Futures in New York jumped 18 percent in just a month. The gains were propelled by a drop in London Metal Exchange-monitored inventories and speculation that Donald Trump’s pledges on infrastructure building will increase metals demand. The president-elect seems to have convinced money managers, who boosted their wagers on further price gains to the largest ever…

Hedge Funds Embrace Copper’s Wild Ride

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