ETF investors followed futures traders in reducing their holdings in gold last week. The reduction of just 3.2 percent was the first reduction in 12 weeks and occurred as gold increasingly fell victim to buyers' fatigue as US economic data improved, thereby reducing one of the recent drivers for gold. Leveraged speculators in futures reduced their net-long exposure for the first time in eight weeks by 7.3 percent which all in all led to a combined reduction of 62 metric tonnes to 3,280.
Silver has also seen reduction in both ETF holdings and speculative positioning through futures. The latter remains elevated after having more than doubled in just eight weeks and it has left silver more exposed during this current correction phase.
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Gold Held In ETFs See First Reduction In Three Months
Published 10/23/2012, 02:35 AM
Updated 03/19/2019, 04:00 AM
Gold Held In ETFs See First Reduction In Three Months
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