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Volatile gold demand tarnishes U.S. commodity fund sales

Posted on 08 September 2016

Turning fortunes for gold pushed withdrawals from U.S.-based commodity funds to their highest levels since April, Investment Company Institute data for the latest week showed on Wednesday. Investors pulled $601 million from those mutual funds and exchange-traded funds during the week through Aug. 31, the trade group said, though many gold funds have seen a rebound in recent days.
The fickle buying and selling of funds, such as SPDR Gold Shares, comes after some U.S. monetary policymakers suggested they favored raising interest rates sooner rather than later, though weak economic data have damped their case………………………………………..Full Article: Source


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