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Gold Slump Not Over as Speculators Go Net-Short for First Time
The slump in gold that took prices to a five-year low may have further to run after hedge funds swung into a net-short position for the first time. The shift in New York futures and options came as speculators increased their bearish wagers to the highest since the U.S. government data begins in 2006. Long holdings declined for a fourth week. Gold fell to the lowest since 2010 last week, and futures in New York are poised for the biggest monthly loss in two years. Prices are plunging amid mounting speculation that U.S. interest rates will climb this year, curbing the appeal of bullion because it doesn’t pay ... (full story)
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