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Largest Gold ETF Shrinks Most in a Year as Trade Tensions Ease

From bnnbloomberg.ca

Investors are pulling cash from the world’s largest gold exchange-traded fund at the fastest pace in more than a year as easing trade tensions push buyers out of safe-haven assets. The $33 billion SPDR Gold Shares ETF, or GLD, saw a net withdrawal of $496 million on Friday, the most in a single day since February 2018. That pushed the five-day total to $720 million, marking the fourth consecutive week of outflows. Investors are weighing the prospect of a trade deal that could lift most or all U.S. tariffs, boosting risk appetite and dimming the appeal of havens. Commerzbank AG analysts including Carsten Fritsch ... (full story)

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  • Category: Fundamental Analysis