Top Gold ETF Remains at Record Levels

Source:

". . .with little likelihood. . .of any significant solutions arising from this week's G20 Summit in London - gold will continue attractive to investors."

While the gold price itself has seemed to be range bound and stuttering in the $910-$950 area over the past few weeks, ETF holdings still remain at record levels, although growth has not been as strong as earlier this year and late last. This does demonstrate however that investor interest in gold as a protection against falling asset prices elsewhere remains very positive. As long as the ETF holdings remain strong, the downside risk in gold probably remains limited.

For the past two days, holdings by the world's largest gold ETF by far, the SPDR Gold Trust (GLD), have remained at the record level of 1,127.44 tonnes of gold (36,248,334 ounces) up 13 tonnes on the week.

With the general stock markets continuing to show weakness as more and more economic bad news continues - and with little likelihood, it seems, of any significant solutions arising from this week's G20 Summit in London - gold will continue attractive to investors.

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