Commerzbank: Gold ETF Holdings Decline This Week

Berlin-Germany (May 4)  Holdings of gold by exchange-traded funds have fallen in recent days after rising during April, points out Commerzbank. The ETFs trade like a stock but track the price of the commodity, with metal put into storage to back the shares. “The gold ETFs tracked by Bloomberg have recorded outflows of 10.5 tonnes so far this week,” Commerzbank says. “Holdings were topped up by 60 tonnes in April, however – the highest monthly inflow since February 2017. Silver ETFs saw inflows of 52 tonnes in April. While holdings in platinum ETFs remained virtually unchanged, palladium ETFs registered further outflows of 44,000 ounces last month.”

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