Pierre Andurand’s Andurand Commodities Discretionary Enhanced hedge fund pared a mid-year loss of around 60% to finish 2025 down 40%, driven by bullish positions in copper, silver, gold, tin, and carbon permits, according to a report by Bloomberg.
The report cites unnamed sources familiar with the matter as highlighting that copper posted its strongest annual gain since 2009, climbing 42% on the London Metal Exchange amid mine disruptions and tariff concerns, while gold and silver saw their bigg...
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