Gold Holds Near Four-Month High Amid Bullish Investor Sentiment By Bloomberg – Investing.com

Gold Holds Near Four-Month High Amid Bullish Investor Sentiment By Bloomberg – Investing.com

(Bloomberg) -- Gold steadied near the highest level in more than four months amid signs that investors are turning more bullish on the precious metal.

Hedge fund managers increased their net-long gold positions to the highest in 16 weeks, data showed Friday. Bullion-backed exchange-traded funds have seen inflows in May, following three straight months of sales, according to data compiled by Bloomberg.

Gold capped three straight weeks of gains as investors weighed inflation risks and spikes in coronavirus cases in some countries. Market-based gauges of inflation expectations have declined of late, though concerns linger that the post-pandemic recovery could stoke price pressures and force a pullback in extraordinary central bank support.