Wednesday May 18, 2016 12:09
Gold holdings of global exchange-traded funds have been rising in May and hit the highest level in more than two years, points out Commerzbank. “Their holdings were topped up by a further 3.9 tonnes yesterday, putting inflows since the beginning of the month at a total of 66 tonnes now,” the bank says. “Currently, holdings in the gold ETFs tracked by Bloomberg are at their highest level since December 2013.” Gold ETFs trade like a stock but track the price of the metal, with gold put into storage to back the shares.
By Allen Sykora of Kitco News; asykora@kitco.com
