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Hedge funds came prepared for last week’s gold price plunge

Posted on 11 October 2016

Gold has been on the defensive since last Tuesday when heavy selling saw it crash through $1,300 an ounce to a level last seen before the Brexit vote gave it a new leg up. For the week gold lost more than 5% with Friday US jobs numbers pushing the metal below $1,250 for the first time since the beginning of June.
Gold touched a two-year high in July around $1,380 an ounce and year to date the metal is still managing gains of nearly 20% or more than $200 an ounce, one of its best annual performances since 1980………………………………….Full Article: Source


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