Trading houses, hedge funds and banks are on a hiring spree for specialist gold traders as interest in the metal soars, creating a battle for talent that is driving up pay packages in what has historically been a niche market.
Major commodity traders Trafigura Group and Gunvor Group have both hired teams of precious-metals traders this year, while rivals IXM and Mercuria Energy Group Ltd. have also been looking to hire in the sector, according to people familiar with the matter. Numerous hedge funds, banks and industrial companies like refiners are also either trying to break into precious metals or expand their teams, according to headhunters and industry executives.