A more than 2% drop in gold prices to $1,700 an ounce on higher futures margins pulled holdings by ETFs to the lowest level since January, ETF Trends reports. The SPDR Gold Shares (GLD) fell 2.7% in premarket trading as investors withdrew $1.6 billion from it on August 24. GLD’s two-day net outflows totaled $3 billion. Investors have cashed in on scorching gains in the metal amid speculation on whether or not the Federal Reserve will get for another round of monetary easing.

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