Gold and silver prices have corrected a bit this month after the strong run in August and September on central bank stimulus, causing some traders to scale back on precious metal ETFs recently.

Holdings of bullion exchange traded funds fell by 213,228 ounces on Monday, due to an outflow from the largest gold ETF, SPDR Gold Shares (NYSEArca: GLD), according to Reuters. The biggest silver ETF, iShares Silver Trust (NYSEArca: SLV), logged an outflow of 290,558 ounces on Monday.

GLD controls nearly 43 million ounces of bullion valued at almost $75 billion. SLV, the silver ETF, holds almost 318 million ounces and $10.6 billion of assets.

The gold fund is off 2% the past month while the silver ETF has shed nearly 6%. The silver fund rose Tuesday following a three-day slide.

Some analysts say the bullish factors driving precious metals remain in force despite the recent price weakness. [Spain Bailout Could be Next Catalyst for Gold ETFs]

“Particularly for investors and central banks, the incentives to buy gold are still there,” Credit Suisse analyst Tobias Merath said in the Reuters story. “Quantitative easing, low interest rates, counterparty risk concerns, all these factors are in place, and investment interest is definitely there.”

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