Gold price up over 1%, closing in on new record
Bullion is now 18% higher for the year, boosted by anticipation of Fed loosening as well as significant buying by central banks.
Speculators in gold, silver and copper futures and options sharply cut their net long positions in the week ended May 10.
Metal prices sold off during a commodities rout during the period, according to the latest report by the U.S. Commodity Futures Trading Commission.
