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Gold ETP Assets Post Biggest Weekly Decline in Five Months

Sales of gold from exchange-traded products were the most in more than five months last week as the Federal Reserve began to reduce stimulus and bullion closed at the lowest level in more than three years.

Assets in the 14 biggest exchange-traded products dropped 27.78 metric tons to 1,785.52 tons in the week ended Dec. 20, the most since the period to July 5. Holdings reached a record 2,632.52 tons on Dec. 20, 2012, data compiled by Bloomberg show.