Commerzbank: Gold ETF Holdings Hit Three-Year High

2 August 2016, 18:14
George Georgoudakis
Global holdings of gold by exchange-traded funds have now hit their highest level in three-plus years after another large inflow on Monday, says Commerzbank. “While speculative financial investors are clearly withdrawing from gold, ETF investors are remaining loyal to gold,” the bank says. “They bought 8.4 tonnes of gold yesterday, which was the highest daily inflow in three weeks and the fourth consecutive daily inflow. This puts holdings in the gold ETFs tracked by Bloomberg at their highest level in over three years.”
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