Gold falls from its all-time high on Covid-19 vaccine breakthrough
Hedge funds and ETFs are cutting their holdings, but long-term holders and central banks are likely to maintain and potentially raise the proportion of gold in their portfolios
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London
THE price of gold has tumbled through key chart support levels of late, causing hedge funds, exchange-traded fund (ETF) holders and other investors to cut their holdings.
Currently trading at around US$1,823 an ounce, gold has fallen by 12.8 per cent from its all-time high of US$2074.70 in early-August. Since the beginning of the year, it is 21 per cent up.
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