Investors Continue to Abandon Gold ETFs

ETF Trends reported that investors continue to pull out of gold exchange-traded funds. They have done so for the last few weeks.

As quoted in the market news:

‘Last week, assets in global ETPs fell 0.8 percent to 1,654.2 metric tons, the lowest since September 2009,’ report Debarati Roy and Nicholas Larkin for Bloomberg.

Even with the start of Diwali, the Indian festival of lights, which often leads to increased bullion demand in the world’s second-largest gold-consuming country, investors have not been warming to gold ETFs. Since the start of this month, the SPDR Gold Shares (NYSEArca: GLD), the largest gold ETF, has bled $959.1 million in assets while the iShares Gold Trust (NYSEArca: IAU) and the ETFS Physical Swiss Gold Shares (NYSEArca: SGOL) have lost over $18 million combined.

Click here to read the full ETF Trends report.