Mark your dates for 03rd Global Gold Dore Forum on 01-02 Mar 2019 at Taj Vivanta Dwarka, New Delhi..., 3rd Asia Pacific Precious Metals Conference on 09-11 June 2019 at PARKROYAL on Beach Road, Singapore...
 You are here : Home > ETF & Others
 
 
Biggest Gold ETF Sees $124 Million Trade, Largest Since January

Biggest Gold ETF Sees $124 Million Trade, Largest Since January

May 5, 2018

 

One investor traded 1 million shares worth $124.5 million in the SPDR Gold Shares fund, known by its ticker GLD, at 1:22 p.m. N.Y. time, the largest single intraday block trade for this fund since January 10.Gold prices have been volatile, dipping since mid-May as the U.S. dollar has strengthened amid signs of a stabilizing global and U.S. economy. Earlier this week, U.S. Federal Reserve officials left interest rates unchanged, but noted that inflation is close to target, without indicating any intention to veer from their gradual tightening of monetary policy.

 

GLD is the largest exchange-traded fund tracking the commodity with more than $36 billion in assets. The fund saw about $1.1 billion of inflows in April, the most since September, according to data compiled by Bloomberg. Since then, investors have yanked about $236 million worth of bets, the data show.“The primary deterrents to a gold, silver and platinum rally would be sustained reversals of favorable trends in inflation, stock-market volatility and the weakening dollar,” according to Bloomberg Intelligence strategist Mike McGlone. “Recent strength in the buck on the back of higher Treasury yields should be a short-lived headwind.”

 

Source:https://www.bloomberg.com/ne