06.03.2009 - Is the growth in ETFs good for gold bugs?
From Indexuniverse.com: There has been a great deal of investment demand driven by the advent of exchange traded funds (ETFs), which has made it easier for individuals to invest in the precious commodity. Demand for Gold ETFs and the like showed a 27% increase from 2007 to 2008; growth has continued to accelerate in the early part of 2009. As recently quoted in the Wall Street Journal: “Trusts have added 306 metric tons of gold to their vaults in the first seven weeks of the year, says Barclays Capital Analyst Suki Cooper. That's just short of the 322 tons added in all of 2008. If that rate were to continue, this year's ETF purchases would surpass the 2,120 tons procured for jewelry in 2008, replacing it as the top source of demand.”.... Full Article: Source