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Where did all that ETF gold go?

Posted on 23 August 2013

Exchange-traded funds may not want gold, but Asian buyers certainly do. As the West shed gold holdings, emerging markets, particularly India and China, bought it up. As we wrote recently, China and India have been importing record amounts of physical gold, stimulated in large part it seems by the dramatic fall in price this year.
In the same piece, we advised the fall in gold price was matched by an unprecedented outflow of metal from the gold ETFs, over 176 tons in the first quarter followed by over 402 tons in the second quarter. Outflows have slowed in July, but still posted a negative number………………………………………..Full Article: Source


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VRS - who has written 38958 posts on Opalesque Commodities Briefing.


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