Hedge funds slash bullish wagers on gold over Trump election win
Hedge funds and other large speculators boosted net-long positions by 11% to 197,362 as of Nov. 12, the lowest in 14 weeks.
After announcing the results of an independent Preliminary Economic Assessment report today, shares in Prophecy Platinum traded hands at 6 times their usual volume.
The report which highlighted an initial capital cost of $863 million and production of 1.959 billion lbs of nickel, 2.068 billion lbs of copper and 7.119 million ounces of platinum-gold over 37 years, caused shares to jump 12% on the day.
