https://www.kitco.com/news/2020-03-09/Gold-Silver-Precious-Metals-Daily-News-Briefs.htmlAnalysts: ETF gold holdings rise most since mid-2019
Holdings of gold by exchange-traded products rose Friday by the highest level since the middle of last year, analysts reported. Most gold ETFs trade like a stock but track the price of the commodity, with metal put into storage to back the shares. Commerzbank reported that the inflow was 24 metric tons. “This was the biggest inflow since the middle of last year,” said analyst Daniel Briesemann. “ETF holdings as per the end of last week found themselves at a record high of 2,673 tons.” BMO Capital Markets put the ETF inflow on Friday at 782,000 ounces, saying it the most in eight months. “In an aggressive market sell-off, this will not necessarily stop the gold price falling, but it is likely to hold up better than other commodities,” BMO said.
