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.
Spot gold lost $24.60, a drop of 1.77%, over the last 24 hours.
As of 12:51 p.m. ET it is trading at $1,641.20/oz.
The rest of the precious metals are off.
Silver is down 3.91% to $29.77.
Platinum retreated 2.83% to 1,547/oz.
Precious metals are all trading at late-summer lows.
