| Despite gold coming close to dropping below the psychologically important $1,300 an ounce level at the end of the week and silver drifting away from $20 an ounce, precious metals investors added to their holdings. Total holdings in exchange traded products backed by physical gold and silver rose last week, albeit modestly, with two tonnes of gold bringing total holdings to 1,728.7 tonnes. More than 19 tonnes of silver trickled back into ETFs for a total of 19,616 tonnes.
Retail investor sentiment in precious metals were buoyed on Friday when second quarter filings by hedge fund gurus John Paulson and George Soros indicated continuing belief in good prospects for the sector...............................................Full Article: Source
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