Precious Metals

The Financial Times (subscription) reported that gold investors had let go of holdings in $2.3 billion worth of exchange traded products last month.

The Financial Times (subscription) reported that gold investors had let go of holdings in $2.3 billion worth of exchange traded products last month.
As quoted in the publication:

Long-time gold bull John Paulson, who has a $1bn stake in the largest gold ETF, trimmed his fund’s holdings in the second quarter, a filing released on Friday showed. The withdrawls are a sign of the uncertainty in the gold market ahead of expected rate rises by the Federal Reserve this year, which will make assets that provide a yield more attractive.

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