Gold ETF holders continue to liquidate their holdings.
As of Monday gold holdings in the world's largest ETF totaled 885.04 tonnes, the lowest level since June. November has been one of the worst months in terms of outflows in the last 3 years as GLD gold reserves have dropped by 57.55 tonnes. The outflows total more than US$ 2.3 Bio.
Total Global Gold ETFs were DOWN 202kozs Nov 28 to 60.670Mozs. They are down 3.2Mozs in November. They are up 13.680Mozs so far in 2016 …. Global Silver ETFs were UP 162kozs Nov 28 to 660.4Mozs. They are up 54.2Mozs YTD.