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Monday, June 24, 2013

Gold Wagers slump

After the announcement of plans of Federal Reserve to reduce stimulus  later this year and 1st half of next year, gold prices declined and $55 billion erased from funds.

As per U.S. Commodity Futures Trading Commission data, speculators reduced their net-long position by 29 percent to 38,951 futures and options by June 18.

Gold futures dropped 69% last week.

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