Gold Snaps Longest Rally Since ‘12 as Investors Sell ETPs
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Gold declined, ending the longest rally since 2012, as crude oil fell and investors exited funds backed by the metal.
Holdings in gold exchange-traded products fell Thursday to 1,619.85 metric tons, the lowest since Jan. 15. The drop in spot gold halts seven straight advances that came after Federal Reserve policy makers signaled they’re in no hurry to raise borrowing costs. Higher rates usually send investors to assets with better yield prospects such as equities and bonds.