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Gold ETF Investors Sell as Rally Takes a Breather
Gold's rally has fizzled for the time being, and investors are grabbing the opportunity to sell their exchange-traded funds that invest in the precious metal. Gold is down about half-of-a-percent this past month, after a year-long rally that had pushed the price up 18%. The $61 billion SPDR Gold Trust (GLD), which is up 13% this year, lost more than $193 in outflows on April 26 as the spot price of the commodity was starting to pull back from its April 15 high. The fund has lost $2.92 billion in investor money through April 26. Market watchers are tying the outflows to an increased likelihood of the Federal Reserve ... (full story)