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GOLD: Institutional Divestment Nearly Over

Gold has been in retreat since hitting an all-time high of US$1,924 an ounce in September 2011. That's an astonishing decline of more than 35 percent -- a whooping correction in the midst of, in my view, a long-term bull market that began roughly a dozen years ago and still has years of life ahead. Over the past year and a half, hedge funds and other institutional investors have been persistent sellers -- mostly of gold ETFs. In doing so, they have provided ample supplies to meet the persistent and continuing demand for physical metal by Asian investors and central banks. ...

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