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Gold is steepening its descent, now at $1,655/oz., -4.8% on the day. Traders point to hedge...

Gold is steepening its descent, now at $1,655/oz., -4.8% on the day. Traders point to hedge funds - big buyers in the move up - now unloading positions. Until the past few days, gold has been about the only investment held by John Paulson's funds that hasn't been taken out behind the barn and shot.
Comments (2)
  • stockbuzzindia
    , contributor
    Comments (43) | Send Message
     
    Gold will continue to drift down. http://bit.ly/oylDMZ
    23 Sep 2011, 01:03 PM Reply Like
  • Chris Bersaw
    , contributor
    Comments (582) | Send Message
     
    Can't say this drop in gold is any surprise when the ratio of managed money longs to shorts was over 60 to 1 at one time, that ratio fell to 40 to 1 and as of last week ending Sept 13th, 30 to 1. Sliver is really melting down here too 15.73% lower.
    23 Sep 2011, 01:24 PM Reply Like
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