Gold futures falls for a sixth straight day

Gold falls for sixth straight day; Filings show billionaire investor George Soros cut holdings

Associated Press

The price of gold is falling for a sixth day after billionaire investor George Soros cut his holdings in the precious metal.

June gold fell $9.30, or 0.7 percent, to $1,386.90 an ounce.

Soros disclosed in a regulatory filing late Wednesday that he reduced his holdings in an exchange-traded gold fund by almost 12 percent in the first quarter.

The price of gold logged its biggest drop in 30 years April 15 on concern that Cyprus would sell some of its gold reserves to support its banks. The precious metal rebounded but is still trading at its lowest in a month.

In other metals trading, platinum also fell. Copper, palladium and silver all rose.

Energy prices settled mostly higher.

Wheat and corn fell. Soybean prices rose.

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