Thursday September 01, 2016 09:02
Global holdings of gold by physically backed exchange-traded funds collectively posted their highest daily outflow – of 11.3 tonnes – in nearly three weeks on Wednesday, Commerzbank reports. “The SPDR Gold Trust, the world’s largest gold ETF, was responsible,” the bank says. The SPDR website shows a single-day outflow of 12.17 tonnes. “Holdings in the gold ETFs tracked by Bloomberg were topped up by a mere 13.7 tonnes in all in August; that’s the smallest monthly increase since April,” Commerzbank says. “The situation is quite different in the case of silver, where ETFs saw inflows of 361 tonnes in August, their highest inflows since March. With the exception of January, silver holdings have been increased every month so far this year.”