The monthly analysis report published by the World Gold Council (WGC) suggests that gold-backed Exchange Traded Funds (ETFs) across the globe dropped by 2% in April. The total holdings declined by 57 tonnes (t) to total 2,424t at the end of the month. The outflows were led by North America, which accounted for 46t of outflows. Most liquid gold-backed ETFs witnessed losses. For the first time, low-cost gold-backed ETFs recorded net outflows. The negative trend was mainly on account of strong U.S. stock markets, which continued to touch new highs. The rise in dollar strength too contributed to the decline in gold ETF ... (full story)