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The Financial Post reported that the massive selling of gold ETPs likely peaked in April and was a major contributor to the record drop in ETP commodity assets posted in the second quarter.
The Financial Post reported that the massive selling of gold ETPs likely peaked in April and was a major contributor to the record drop in ETP commodity assets posted in the second quarter.
As quoted in the market report:
Sales of gold products accounted for 97 percent of a record $19 billion of net outflows from commodity ETPs in the second quarter, ETF Securities said in a report today. Commodity ETP assets fell to $127 billion from $186 billion at the end of March, with price declines accounting for two-thirds of the drop, it said.
