Precious metals sag before fiscal cliff talks

Hedge funds and other large speculators boosted net-long positions by 11% to 197,362 as of Nov. 12, the lowest in 14 weeks.

The ruling removes the last major obstacle for the $250 million project, located 150 km northeast of Guayaquil.

Thanks to record gold prices, major miners achieved record revenues, record bottom-line earnings, and record operating cash flows.

The precious metal has fallen about 8% from a record high on Oct. 31, with losses accelerating after Trump’s election victory last week.