Global Gold ETFs: Biggest Outflows In Three Months

March 29, 2012


Physical bullion ETFs, such as the SPDR Gold Trust Shares (NYSEArca: GLD), may have had their largest outflows since the beginning of 2012, but Goldman Sachs and ETF Securities believe precious metals are still poised to head higher, according to an article on Barron’s.

The outflows in gold ETFs stem from recent weakness in gold prices, Barron’s said. Also, speculative long positions in gold futures have dropped to lows last seen in April 2009, according to the Barron’s report, which cited data from exchange-traded fund sponsor ETF Securities.

Similarly, Goldman Sachs pointed out in a research note that limited U.S. economic growth in 2012 will support an increase in gold prices going forward, the article said.

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