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Gold slump not over as hedge funds go net-short for first time

Speculators have raised their bearish wagers to the highest since US govt data began in 2006

Gold fell to the lowest since 2010 last week, and futures in New York are poised for the biggest monthly loss in two years. Prices are plunging amid mounting speculation that US interest rates will climb this year, curbing the appeal of bullion because it doesn't pay interest like competing assets.

New York

THE slump in gold that took prices to a five-year low may have further to run after hedge funds swung into a net-short position for the first time.

The shift in New York futures and options came as speculators increased their bearish wagers to the highest since the US