“While the pace of inflows has slowed each year since 2009, they’re holding more of the metal than all but four central banks,” according to the article.
However, net long positions in gold by hedge funds and money managers are at the lowest level since December 2008.
This bearish sentiment is an indicator that gold “may be approaching levels attractive to longer-term investors,” ETF Securities analysts said Monday. [Gold ETFs Decline in Risk-Off Trade]
SPDR Gold Shares
Full disclosure: Tom Lydon’s clients own GLD.