Bears Miss Gold’s Best Rally Since June as Analysts See Declines
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Investors stayed bearish on gold before its biggest rally since June, missing out on what some analysts predict could be the last of the good times for bulls.
Bullion jumped last week after China unexpectedly devalued its currency, roiling global markets and boosting the appeal of haven assets. Still, some of the metal’s best forecasters see the price gains fading. Billionaire hedge-fund manager John Paulson disclosed on Friday that he cut his holdings in the world’s biggest gold exchange-traded product for the first time in two years last quarter.