| Gold touched a two-year high in July around $1,380 an ounce and year to date the metal is up 25% or $270 an ounce, one of its best annual performances since 1980.
Large scale gold futures and options speculators or "managed money" investors such as hedge funds were wrong-footed by the negative employment and ISM numbers and had been positioning themselves for further declines in the gold price in the run-up to Federal Reserve rate hikes later this year...............................................Full Article: Source
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