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Where all the ETF sold gold ended up

Posted on 26 August 2013

Gold bullion holdings in the world’s more than 140 gold-backed ETFs hit a record 2,632 tonnes or 93 million ounces in December 2012. During the first seven months of this year outflows totalled some 670 tonnes with more than 400 tonnes recorded in the second quarter following the spectacular collapse in the price of gold.
After burning a $60 billion hole in gold investors pockets, only in August did the selling stop. Investment bank Macquarie explains in a research note where all that gold has gone adding that ETF gold should be considered as part of the physical market………………………………………..Full Article: Source


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VRS - who has written 34604 posts on Opalesque Commodities Briefing.


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