Commerzbank: ETF Gold Holdings Highest Since December 2013-Shanghai Metals Market

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Commerzbank: ETF Gold Holdings Highest Since December 2013

Industry News 01:44:40PM May 19, 2016 Source:SMM

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


Commerzbank: ETF Gold Holdings Highest Since December 2013

Industry News 01:44:40PM May 19, 2016 Source:SMM

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