[miningmx.com] – REDEMPTIONS of gold-backed exchange traded funds on a scale seen in 2013 had largely come to an end, said the World Gold Council which added, however, that there would be some volatility in trade.
“We basically think that flow of gold out of the ETFs is pretty much over now,” said Marcus Grubb, MD of investment for the council in an article published by BDLive.
“There is analysis in the market showing that quite a lot of ETF tonnage was bought at or below $1,000 in the last decade,” Grubb said. “If you look at the redemptions they are concentrated in the speculative end of the investor universe,” he said.
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