Author: Paul Ploumis
20 Mar 2015 Last updated at 05:32:24 GMT
(Kitco News) - Investors jumped into gold-backed exchange-traded funds (ETF) Wednesday, following a more dovish-than-expected Federal Reserve.
SPDR Gold Shares (NYSE: GLD) the world’s largest gold ETF saw an increase in its reserves of 1.79 tonnes to 749.77 tonnes.
Some analysts note this isn’t a massive jump, compared to some of the recent outflows, but it is the first inflows seen since Feb. 20.
On a monthly basis, GLD’s gold reserves have so far dropped by 13.72 tonnes in March; however, year-to-date, investor interest remains net positive as the ETF has seen its gold reserves increase by 40.75 metric tons.
Courtesy: Kitco News
