| Continued ETP outflows remain a key downside risk to gold prices in the near term; however, in Barclays' view, the vulnerability of further ETP outflows subsides should prices recover to above $1500/oz or equity markets underperform given the stronger correlation between the two.
Gold ETP holdings continued their downward march, ending April at a record net outflow of 176 tonnes. This comes after having previously set a monthly net outflow record in February (111 tonnes) and brings year-to-date net outflows to 343 tonnes, Barclays noted in a report...............................................Full Article: Source
|