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Gold Fund Sales Resume as Prices Fall for Third Straight Day

  • ETP holdings decline for the 10th time in 12 sessions
  • Trading volumes fall as prices head for third annual drop
Updated on

Investors resumed sales from gold-backed funds as traders increased expectations that the Federal Reserve will raise interest rates again in March. Bullion futures posted a third straight decline.

Holdings in gold exchange-traded products fell 0.9 metric ton on Tuesday to erase gains made the previous day, data compiled by Bloomberg show. Assets have declined 10 times in the last 12 sessions to 1,466.3 tons, near the lowest in more than six years.