Hedge funds slash bullish wagers on gold before war jitters
Speculators have reduced net-long positions by 3.6%.
Commodity trader Glencore will appear in court in the United States and the United Kingdom later on Tuesday, it said, to potentially resolve investigations into the group following corruption allegations.
The company, one of the world’s biggest miners and commodity traders, said it still expects to resolve those investigations and the one in Brazil this year.
Glencore said it also expects to issue an announcement after the court hearings are concluded.
Glencore is being investigated by the US Department of Justice and Brazilian authorities in the Car Wash scandal. The company has also been subpoenaed by the Justice Department for documents relating to possible corruption and money laundering in Nigeria, the Democratic Republic of Congo and Venezuela.
The US Commodity Futures Trading Commission is also investigating the company for possible corrupt practices.
(With files from Reuters and Bloomberg)
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