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Funds Dump Gold At Fastest Pace Since May As Fed View Shifts

by bloomberg.com posted 1year ago 4494 views
With the Fed’s next policy meeting looming this week, hedge funds are exiting from gold. Speculators cut their bets on a bullion rally by the most in more than three months. Holdings in global exchange-traded funds backed by the metal are down from a three-year high in August. Aggregate open interest in New York futures is mired in the longest slump since May. Speculation is mounting that Fed officials, in a statement scheduled for release...