Tuesday, 17 May 2011
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Gold price pressured by George Soros' fund slashing holdings of the precious metal
GOLD ended lower after several large hedge funds, including one controlled by billionaire investor George Soros, disclosed they had slashed their holdings of the precious metal. Gold for May delivery settled down $US10.60, or 0.7 per cent, at $US1479.80 a troy ounce on the Comex division of the New York Mercantile Exchange. The most actively traded gold contract, for June delivery, ended down $
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