RAB Gold hedge fund down 18 percent

Reuters – A hedge fund run by RAB Capital that invests in gold has fallen about 17.5 percent since the start of June, the group said, missing a large rise in the gold price because of bad bets.

The $35 million RAB Gold fund made the losses between June and August — a period in which the gold price dropped slightly — after taking out an interest rate swap on gold and shorting equities that continued to rise.

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