Hedge funds slash bullish wagers on gold before war jitters
Speculators have reduced net-long positions by 3.6%.
The English engineering company, DavyMarkham, has been awarded a $20 million order for the supply of mining hoists and associated electrical drives and controls by gold producer IAMGOLD of Toronto, Canada. The contract includes a large double drum hoist with a diameter of 6.4 m, a drum width of 2.4 m and a payload capacity of 20,000 kg. It will serve as the main production hoist, operating at depths down to 2,652 m, at IAMGOLD’s new Westwood exploration program. (more…)
