There was a fair share of profit-taking investors and bargain hunters during the directionless price action in gold over the second quarter. [Gold ETFs Pare Weekly Loss After Jobs Report]
Gold demand for ETFs and similar products dropped by 0.8 tonnes over the second quarter after rising 53.2 tonnes in the first quarter. In comparison, demand for jewelry rose 418.3 tones and physical bar demand increased by 226.2 tonnes over the second quarter. [ETF Chart of the Day: Gold]
Gold demand from ETFs and similar products peaked in the fourth quarter of 2011 at 104.4 tonnes.
Investors may gain access to gold through ETF products, such as:
- SPDR Gold Shares (NYSEArca: GLD)
- iShares Gold Trust (NYSEArca: IAU)
- ETFS Physical Swiss Gold Shares ETF (NYSEArca: SGOL)
For more information on gold, visit our gold category.
Max Chen contributed to this article.
Full disclosure: Tom Lydon’s clients own GLD.