ETPs Backed by Buillon Lose $20 Billion in April

Bloomberg reported that gold ETP’s have lost $20 billion in April and are on track to post the biggest monthly drop ever.

As quoted in the market report:

Holdings in ETPs backed by bullion fell 141.81 metric tons in April, heading for the biggest monthly drop on record, data compiled by Bloomberg show. The value of the holdings decline was $20 billion, the most since May 2004. Gold investment outflows reached $9.2 billion in the first quarter as assets in all ETPs rose $70 billion and benchmark indexes in the U.S. climbed to records, BlackRock Inc. (BLK) said in a report on April 4.

To view the whole Bloomberg report, click here.