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Gold: an overview of the market situation
Gold fell after U.S. Commodity Futures Trading Commission data showed that the net-long position in gold declined 20%to 74,031 futures and options in the week ended Sept. 2, the lowest since June 17. Short holdings betting on a drop increased 44%.
Other data showed that holdings in the SPDR Gold Trust, the biggest ETP backed by bullion, fell 1.2% to 785.72 tons last week, the biggest drop since May 2.
Gold for December delivery fell to $1,252.80 an ounce (-0.66%) on the Comex in New York.
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