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Gold ETP holdings cap record drop as $17.9 bln wiped out

Posted on 02 May 2013

Gold holdings in exchange-traded products plunged 174 metric tons last month, the biggest drop ever, as prices entered a bear market and wiped $17.9 billion from the value of the funds.
Holdings in the ETPs slumped 7.1 percent in April to 2,275.84 tons, the lowest since October 2011, data compiled by Bloomberg show. The value of the assets dropped to $108.1 billion. Investors pulled $10.23 billion from gold funds in the first quarter, the most since at least 2000, when the data begins according to Cambridge, Massachusetts-based EPFR Global………………………………………..Full Article: Source


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