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Gold Fund Holdings Rebound From Biggest Two-Day Drop This Year

Posted on 06 September 2016

Gold steadied as holdings in bullion-backed funds rebounded from the largest two-day drop this year. Investors bought 0.6 metric ton of the metal through exchange-traded funds as of Friday, when prices rose as weaker-than-expected U.S. jobs data cut expectations that the Federal Reserve will raise interest rates this month.
They sold 16.1 tons in the two days before that, the most since December. Gold had surged as much as 30 percent this year as the Fed refrained from further tightening and the U.K.’s Brexit vote boosted demand for a haven………………………………………..Full Article: Source


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