(Bloomberg) Gold investors seem to agree: Don’t fight the Federal Reserve.
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.
