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ETF Gold Holdings Rise By 8 Tonnes

ETF Gold Holdings Rise By 8 Tonnes

October 11, 2018

 

Gold-backed global exchange-traded funds posted a large inflow Wednesday, says Commerzbank. This came as the U.S. Dow Jones Industrial Average fell by more than 800 points. Meanwhile, “the gold ETFs tracked by Bloomberg registered an inflow of around eight tonnes yesterday,” Commerzbank says. “This is attributable to the SPDR Gold Trust in the U.S. and was the first daily inflow into this ETF since July.” Gold ETFs track the price of the commodity, with metal put into storage to back the shares. They give investors exposure to the price of gold without costs such as assaying and storage.

 

Source: https://www.kitco.com/news/20