Gold Falls as Commodities Slide, Hedge Funds Cut Holdings
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Gold dropped below $1,700 an ounce, alongside other commodities, on concern that a slowdown in China may crimp demand for raw materials.
The Standard & Poor’s GSCI Index of 24 raw materials slumped as much as 1.2 percent as the world’s second-largest economy had the biggest trade deficit last month in at least 22 years, the weakest January-February factory-production gain since 2009 and retail sales in the first two months of the year below the median economist estimate, according to government data.