| Gold has been on the defensive since the start of October and is still down nearly $50 after falling to a four month low of $1,243 on October 7. 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.
But there are signs that hedge funds active on the derivatives market have lost confidence in gold's ability to claw back losses suffered since mid-July when the metal touched a two-year high near $1,380 an ounce.........................................Full Article: Source
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