17.12.2013 - Gold funds slump 31 pct; steepest price drop in 32 years
Investors are dumping gold-backed exchange traded products at the fastest pace since the securities were created a decade ago, mirroring the steepest price drop in 32 years. Holdings in the 14 biggest ETPs plunged 31 per cent to 1,813.7 tonnes since the start of January, the first annual decrease since the funds started trading in 2003, data compiled by Bloomberg show. The removals erased $69.5 billion in the value of the assets as prices fell by the most since 1981...............................................Full Article: Source
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