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Outflows from Gold ETFs hit 84 tons so far in Q3

Outflows from Gold ETFs hit 84 tons so far in Q3

September 19, 2018

 

Outflows from gold exchange-traded funds so far in the third quarter are probably comparable to the amount of the precious metal that has been bought by central banks, said Commerzbank in a snippet.The ETFs trade like a stock but track the price of the commodity, with metal put into storage to back the shares. Gold ETFs recorded outflows of 2.3 tonnes yesterday, Commerzbank added.A good 84 tons of gold have been withdrawn from the ETFs tracked by Bloomberg this quarter, which probably equates roughly to the amount bought by central banks.

 

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