BofA survey says gold is undervalued as bullish speculative interest picks up

By Neils Christensen – Kitco News

For the third consecutive week, speculative investors increased their bullish bets on gold, in part due to growing uncertainty surrounding the sustainability of U.S. government debt, reigniting the debasement trade.

Although bullish speculative positioning has reached its highest level so far this year, sentiment remains below where it was 12 months ago and substantially lower compared to the start of the year.