Gold Is "Undervalued" For 1st Time In 6 Years, BofAML Says

With hedge funds net short for the first time ever, and Commercial Hedgers are holding the lowest net short position in gold futures since the launch of the gold bull market in 2001, we thought it interesting that - for the first time since 2009, BofAML's fund managers' survey finds Gold is "undervalued."

Gold Is "Undervalued" For 1st Time In 6 Years, BofAML Says