(Bloomberg) — Gold investors seem to agree: Don't fight the Federal Reserve.

With the Fed's next policy meeting looming this week, hedge funds are exiting from gold. Speculators cut their bets on a bullion rally by the most in more than three months. Holdings in global ETFs backed by the metal are down from a three-year high in August. Aggregate open interest in New York futures is mired in the longest slump since May.

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