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One of Canada’s largest hedge fund managers is piling into gold stocks in anticipation that bullion’s record-setting rally is only just beginning.
Waratah Capital Advisors has invested in mid-size Canadian producers including Equinox Gold Corp. and Centerra Gold Inc. as well as exploration and development companies including Artemis Gold Inc. in its funds, said chief investment officer Brad Dunkley. He and Blair Levinsky founded Toronto-based Waratah in 2010.
“Gold’s been in the bull market with some ramp-ups and then some periods where it gives back — but if you zoom out, gold’s been very strong,” Dunkley said in an interview. “It’s just getting started.”
Bullion prices have almost doubled over the past two years and hit fresh records above $3,790 an ounce this week. Gold has been among this year’s best performing commodities due to a broad confluence of factors…
