Posted: Tue Jun 03, 2003 4:30 am
June 2 (Bloomberg) -- The hedge fund of Paul Tudor Jones,
which manages $8 billion of assets, views gold as effectively
another currency, following moves in foreign exchange markets
rather than supply and demand of bullion.
Gold can be understood best when compared with currencies
such as the euro, Tudor Investment Corp. commodities strategist
Steve Mathews told a conference of the London Bullion Market
Association in Lisbon.
``For us as a trading institution, gold behaves as a foreign
exchange instrument, not as a regular commodity like wheat or live
cattle,'' Mathews said. ``The fundamentals put it outside the
range of commodity trading for us. Which doesn't mean we don't
trade it, we do, but it's as a foreign exchange, not as a
commodity.''
which manages $8 billion of assets, views gold as effectively
another currency, following moves in foreign exchange markets
rather than supply and demand of bullion.
Gold can be understood best when compared with currencies
such as the euro, Tudor Investment Corp. commodities strategist
Steve Mathews told a conference of the London Bullion Market
Association in Lisbon.
``For us as a trading institution, gold behaves as a foreign
exchange instrument, not as a regular commodity like wheat or live
cattle,'' Mathews said. ``The fundamentals put it outside the
range of commodity trading for us. Which doesn't mean we don't
trade it, we do, but it's as a foreign exchange, not as a
commodity.''