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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

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...

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