CF Benchmarks is to offer a PAX Gold (PAXG) daily settlement and spot rate, updated every second. PAX Gold from Paxos Trust Company is the first regulated digital asset backed token that represents premium gold bars.
Commodities & Resources
Delbrook Capital, a Vancouver-based specialist metals-focused long/short equity hedge fund, has continued to capitalise on this summer’s soaring precious metal prices.
London-based oil-focused hedge fund Westbeck Capital suffered a small dip in July after failing to capitalise on strong oil equities returns – but the strategy still remains up almost 70 per cent so far this year, with the firm now strongly bullish on an imminent price surge.
Naysayers of the world’s reserve currency forget its potential as an asset in what are still crisis conditions, says RWC Diversified Returns Fund Manager Clark Fenton.
Despite recently hitting an all-time high, the price of gold is widely expected to increase further in the second half of the year, according to Kryptoszene.
Trend following hedge fund managers gained ground in July following a patchy first half of 2020, notching up their best monthly performance so far this year by capitalising on soaring gold prices and emerging trends against the US dollar.
As gold prices reach fresh highs, more hedge fund investors could pile into the commodity – heralding fresh spikes of volatility in the asset, according to Christopher Cruden, manager of the currency and gold-focused CTA strategy Insch Kintore.
Hedge fund short sellers could soon be circling the troubled Russian gold miner Petropavlovsk, after Polygon Global Partners built a sizeable short bet in the London-listed company, which is facing major governance issues.
Soaring gold prices are bringing stellar returns for hedge funds this year, and now projections for the rest of 2020 are being revised upwards in light of the commodity’s runaway momentum.
The price of natural gas is predicted to surge amid stalling US production levels, says Russell Clark Investment Management, London-based global equities hedge fund.