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Top gold ETF see biggest outflow in 3 years

IMG Auteur
USA Gold
 
Published : November 14th, 2019
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YahooFinance-Bloomberg/Justina Vasquez/11-11-2019

“Gold exchange-traded fund investors are selling off holdings as a more positive global outlook decreases their interest in haven assets.”

USAGOLD note: There are a couple of things going on here that need to be pointed out. First, the gold price is up about 20% since 2016 so it is a kind of an apples-to-oranges comparison.  If gold were still $1250 per ounce, the $620.7 nominal value of the liquidations would be significantly lower.  Second, we are talking about roughly 13 tonnes of gold here. . . . .a small number relative to the 2855 metric tonnes stockpiled collectively at the ETFs.  In short, these sales are a minor, perhaps even healthy, event. If the sales develop into a trend, we will take a closer look at it.
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