ETFs

There has been considerable throughput of gold in western capital markets, with substantial buying from all round the world following the April price crash. The supply can only have come from two sources.
Gold traders turned bearish for the first time in a month as investors reduced holdings in exchange-traded products for an unprecedented 17th consecutive week and India, the biggest buyer, announced curbs on imports.
The recent drop in gold prices is a confirmation, or a revelation, to investors of the battle between the physical and paper gold markets. Here, Brien Lundin predicts the timing of a handoff from Asian physical demand to Western speculative demand.
Although silver rallied, the price of gold held onto an earlier drop Tuesday morning in London, retreating from last week's closing levels as UK and US traders returned from national holidays.
Wall Street banks are expanding holdings of speculative-grade bonds as prices fall from record highs with investors retreating from exchange-traded funds that buy the debt.
The gold price fell $10 per ounce after reaching almost $1,400 for the fifth time this week in London trade Friday morning. Silver held tight around $22.50 per ounce, managing only one-third of gold's 2.0% gain for the week.
Gold prices failed to hold a rally above $1,380 per ounce in London on Friday morning, trading 5% down for the week as world stock markets held steady.
As inflation is low and equity markets are rising, gold-backed ETP investors have been rotating out of gold. The SPDR Gold Trust holdings dropped to a four-year low to 1,041 metric tons yesterday.
As inflation is low and equity markets are rising, gold-backed ETP investors have been rotating out of gold. The SPDR Gold Trust holdings dropped to a four-year low to 1,041 metric tons yesterday.
The world's biggest gold exchange traded fund SPDR Gold Trust could lose up to a further four million ounces (almost 125 tonnes) to add to the nearly 300 tonnes it has lost through redemptions since the start of the year.