Performance was also discordant in the precious metal complex. Net length for gold slipped for the first in 7 weeks although price has set new record highs. Some traders entered short positions as they viewed the rally overstressed. While some market participants began to worry about a gold price bubble, gold has only set a record in USD-terms but remained below June’s levels in terms of many other currencies. Moreover, it’s far from the peak when calculated in real terms.
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Gold’s Net Speculative Long Positions Dropped for the First Time in 7 Weeks
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