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Thursday, November 15th, 2018 - Buy Gold - Bringing you trusted gold news and gold investing information since 2006

Largest Ever Gold Outflow From GLD

The world’s most popular gold ETF – SPDR Gold Shares (NYSE:GLD) – doesn’t seem to be very popular lately as yesterday saw some 31.6 tonnes of metal exit the trust, the biggest single-day reduction ever, putting the ETF’s holdings at their lowest level since last May.

Of course, physical demand in Asia remains quite strong as rising inflation has spurred a good deal of buying, however, U.S. investors are now reducing their gold holdings sharply, apparently no longer desirous of the metal’s safe-haven and inflation hedge qualities.

Disclosure: Long GLD at time of writing.

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