Banks and their fund, CTA clients took opposing views on gold futures

12th August, 2025

Luke Jeffs
Chicago

The largest US banks and their hedge fund and commodity trading advisors (CTA) clients took opposing positions on gold futures last week, with the banks going short and the funds going long ahead of frenetic trading after a report emerged of tariffs on US gold imports.

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ABN AMRO
Bank of America
CBOE
Citi
Goldman Sachs
DRW Holdings
HSBC
J.P Morgan
Marex
Morgan Stanley
SGX
SocGen
Susquehanna
MUFG Investor Services
TP ICAP
ABN AMRO
Bank of America
CBOE
Citi
Goldman Sachs
DRW Holdings
HSBC
J.P Morgan
Marex
Morgan Stanley
SGX
SocGen
Susquehanna
MUFG Investor Services
TP ICAP

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