Gold Futures Close Below $4,000 as Position Selling Totals $19.5 Billion
Photo: TokenPost
December gold futures settled at $3,898.90 an ounce Friday, down 3.3%, as selling by the “other” and nonreportable categories helped drive prices below $4,000. Spot gold had fallen roughly 30% from its January record near $5,600. Gold futures positions declined by $19.5 billion in the five weeks since Sept. 22. About $8 billion of selling in the latest week, through Oct. 27, came from managed money, “other” and nonreportable categories combined. Across the five-week period, the “other” and nonreportable categories accounted for about 95% of the selling; hedge funds were largely absent.
Source: TokenPost
