| After two months of treading water, gold prices are starting to sink. Futures in New York reached a 15-week low on Wednesday after investors sent US equities to a record high. Assets in global exchange-traded funds backed by bullion are near the smallest since 2009, and money managers have cut their bets on a rally by a third since this year’s peak in March.
Gold’s slump is erasing gains from earlier this year, when increased tension between Ukraine and Russia and a winter slowdown for US economic growth sent prices to their biggest first-quarter gain since 2008. Goldman Sachs Group Inc. and Societe Generale SA are predicting the metal will extend 2013’s 28% slump. Futures have tumbled 9.1% from this year’s high in mid-March...............................................Full Article: Source
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