Hedge Funds Finally Say No to Gold as U.S. Shares Smoke Records

(Bloomberg) Investors judging the world economic outlook as a bit more stable are taking some of the shine off gold.
Gold’s Ups and Downs Hedge funds and other speculators cut their wagers on a rally for the metal for the first time in six weeks, scaling back from an all-time high position in the prior week. Holdings in exchange-traded funds backed by bullion posted the first weekly loss since the end of May as prices in New York did the same.

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