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Technical Buying Gives Gold a Boost, While ETF’s Shrink Holdings
Apr. 22, 2013 09:07AM PST
Precious MetalsMining Weekly reported that gold rebounded by more than 1 percent in Monday trading on technical buying although ETF were meanwhile shedding their holdings to the lowest levels seen in three years.
Mining Weekly reported that gold rebounded by more than 1 percent in Monday trading on technical buying although ETF were meanwhile shedding their holdings to the lowest levels seen in three years.
As quoted in the market report:
But holdings of the largest gold-backed exchange-traded-fund, New York’s SPDR Gold Trust, dropped 0.88% on Friday from Thursday, while those of the largest silver-backed ETF, New York’s iShares Silver Trust remained unchanged for the same period.
