Commerzbank: Gold ETF Holdings Post Second Straight 16-Tonne Decline

Monday November 14, 2016 08:13
Holdings of gold by global exchange-traded funds have now fallen by roughly 16 tonnes for two days in a row, points out Commerzbank, citing data tracked by Bloomberg. “As such, holdings in the gold ETFs have now been reduced both since the start of the month and since the start of the quarter,” Commerzbank says. Holdings in SPDR Gold Shares, the world’s largest gold ETF, stood at 934.56 tonnes as of the close of Friday compared to 955.03 two days earlier. Gold ETFs trade like a stock but track the price of the commodity, with metal put into storage to back shares.