Holdings in the world's largest gold exchange-traded fund are at a record level as 2008 winds down, providing some healthy optimism for the market in coming months.
Metal held by SPDR Gold Shares (trading symbol GLD) climbed to 705.90 metric tons on July 11, before backing down to 614.35 in mid-September amid a liquidation selloff throughout the commodities complex. Since then, holdings are on the rise again.
The SPDR Web site shows the holdings at a record 775.33 metric tons each business day since Dec. 17. This represents an increase of 23.5% from 627.88 metric tons at the end of 2007.