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Gold ETF assets plunge as Soros dumps GLD holdings

Posted on 17 May 2013

Nearly 180 metric tons of bullion flowed out of gold ETFs in the first quarter as notable investors including George Soros dumped their positions in SPDR Gold Shares and other precious metal funds amid a pullback in prices.
The first quarter saw a “strong resurgence” in demand for gold jewellery, bars and coins; however, overall demand was down 13%, according to a report released Thursday from the World Gold Council. “Outfows from ETFs accounted for the vast bulk of this decline; excluding these outflows overall demand grew year-on-year,” it said………………………………………..Full Article: Source


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