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.
Shareholders of precious metals producer Polymetal International approved the sale of its Russian assets to a Siberian gold miner, the company said on Thursday.
The deal involves Polymetal International selling its Russian business to Mangazeya Plus – part of businessman Sergey Yanchukov’s Mangazeya Mining – for around $3.7 billion, of which $2.2 billion is the Russian operation’s net debt.
(Editing by Alex Richardson)
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