streetTracks Gold Shares (GLD) exchange traded fund (ETF) sold bullion this week after the yen strengthened. The ETF unloaded 11 tonnes of bullion and now holds 588.74 tonnes, reports Jon Nones for Resource Investor. Recent demand is driven by India, due to the fact that the ETF has lower inventory now than when the metal was in the $700 range. The gold ETF will likely end up buying more than they sell between now and the end of the year, says Tim Iocano fro Seeking Alpha. GLD is currently 23.4% year-to-date.
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