“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 a recent Bloomberg report. However, net long positions in gold by hedge funds and money managers are at the lowest level since December 2008. [Gold ETFs Slip Into Negative Territory for Year]
Gold miner ETFs, one of the market’s hardest-hit sectors, also traded higher Wednesday. [Junior Gold Miner ETF Hits All-Time Low as Investors Favor Bullion]
SPDR Gold Shares
Full disclosure: Tom Lydon’s clients own GLD.