25.08.2016 - Gold price drop triggers mining stocks bloodbath
Gold struggled on Wednesday losing more than 1% to exchange hands for $1,327 in late afternoon trade in New York. Gold is coming off two-year highs hit early this month and year to date the metal is still up more than 25% or nearly $270 an ounce. Some of the biggest drivers of 2016 gold price surge have begun to lose steam in recent weeks. Large scale gold futures and options speculators or "managed money" investors such as hedge funds have been scaling back bullish bets recently and the frenzied buying of physically-backed gold ETFs have also moderated..............................................Full Article: Source
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