Market Nuggets: Barclays: Gold ETPs Post Largest Inflow Since Start Of Year
Monday August 26, 2013 8:18 AM
Global exchange-traded-product holdings of gold posted their largest daily inflow since the start of the year Friday at 5.8 metric tons, says Barclays. The largest, SPDR Gold Shares (GLD), had an increase of 6.6 tons. "Flows for the month to date remain negative at 17 tons but the pace of outflows has showed signs of slowing as equity markets have weakened and prices have risen, meaning fewer (positions in) ETPs are loss-making," Barclays says. "Given that we continue to expect tapering to be announced in September and that we expect the dollar to strengthen, ETP holdings are likely to remain fragile but flows will remain a key area to track.