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IPMI and Industry News: Industry News

Are GLD withdrawals a threat to the gold price?

Thursday, May 16, 2019  
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Lawrie Williams: So far this year a total of 62 tonnes of gold – worth nearly $US2.6 billion at current prices – has been taken out of the world’s largest gold ETF, SPDR gold shares (GLD), despie a couple of months when gold was added into the ETF.  Yesterday there was a withdrawal of 3.2 tonnes, but this may have been ultra short term profit taking as there was a deposit of a similar amount a couple of working days prior and the gold price jumped in between! - Sharps Pixley 05/16/2019

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