Money managers yanked $1.27B out of gold and precious metals last week, bringing the year-to-date drawdown to $20.8B. The largest gold ETF (GLD) is down 13.8% YTD. It largest shareholder, John Paulson, remains bullish on gold; his Gold Fund is down almost 50% this year. (Gold ETFs: GLD, IAU, SGOL, PHYS, AGOL, DGL, UBG, DGP, UGL, DZZ, GLL, DGZ, UGLD, DGLD, GLDI)