After outflows of 66.6 tonnes over the whole of 2015 – admittedly encompassing some sharp ups and downs before reaching the year end – the SPDR Gold Trust ETF (GLD), the world’s largest gold ETF, has already clawed back around one third of this in the first three weeks of the current year. At the end of last week the total gold holding in GLD stood at 664.2 tonnes, a rise of 21.8 tonnes over the three week period.
While this is still only around half the peak holding of 1,351.5 tonnes reached back in 2012, it does demonstrate that perhaps gold is indeed coming back into favour as a safe haven asset….
The above is the opening of my latest article on shapspixley.com. To read the full article click on Do GLD ETF gold inflows suggest a positive sentiment change?