Gold ETP Outflow Likely Peaked in April: ETF Securities

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.

To view the whole Financial Post report, click here.