| On Wednesday, gold snapped back some of its recent losses adding nearly $10 in New York in another day of brisk trading. At $1,275 an ounce, gold is up just over 20% since the start of the year. A new study shows the rally – the best start to the year in almost three decades – has been almost entirely driven by investors in physical gold-backed exchange traded funds and large-scale futures speculators like hedge funds.
According the the World Gold Council's Gold Demand Trends study ETF investors who've been stocking up on the metal right out of the gate in 2016 were behind the best ever first quarter for the metal and the second largest quarter on record after Q1 2009...............................................Full Article: Source
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