Chicago
SPECULATORS keep punishing gold.
Money managers stayed net-short on bullion for a second week, after going bearish for the first time since the US government data begins in 2006. The value of exchange-traded products (ETPs) tracking gold slumped US$6 billion last month, the most since September, data compiled by Bloomberg show.
With prices stuck near a five-year low, traders are turning their back on gold amid muted inflation and a resilient US economy. Since about 40 per cent of what's mined...
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