Gold ETP outflows slow sharply in Q3 Friday, Octo
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Posted On: 10/04/2013 10:22:42 AM
Gold ETP outflows slow sharply in Q3
Friday, October 4, 10:21 AM ET | IAU
The "bulk of shorter-term tactical money that went into gold in 2011 and 2012 has now been cleared," says ETF Securities' Nick Brooks, as outflows from gold ETPs slowed to $4.2B in Q3 from a whopping $19.6 a quarter earlier, according to his firm.
For the giant SPDR Gold Trust (GLD -0.8%) - currently at about $38B in AUM - outflows slowed to $2.55B from $11.55B, according to IndexUniverse.
Dog back to wagging tail? The data, suggests Brien Lunden of Gold Newsletter, could mean that fundamentals, rather than ETF flows, may again become the key driver of the gold price.
ETFs: GLD, IAU, SGOL, PHYS, AGOL, DGL, UBG, DGP, UGL, DZZ, GLL, DGZ, UGLD, DGLD, GLDI.
Friday, October 4, 10:21 AM ET | IAU
The "bulk of shorter-term tactical money that went into gold in 2011 and 2012 has now been cleared," says ETF Securities' Nick Brooks, as outflows from gold ETPs slowed to $4.2B in Q3 from a whopping $19.6 a quarter earlier, according to his firm.
For the giant SPDR Gold Trust (GLD -0.8%) - currently at about $38B in AUM - outflows slowed to $2.55B from $11.55B, according to IndexUniverse.
Dog back to wagging tail? The data, suggests Brien Lunden of Gold Newsletter, could mean that fundamentals, rather than ETF flows, may again become the key driver of the gold price.
ETFs: GLD, IAU, SGOL, PHYS, AGOL, DGL, UBG, DGP, UGL, DZZ, GLL, DGZ, UGLD, DGLD, GLDI.
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