ETF Securities manages ETFS Physical Swiss Gold Shares (NYSEArca: SGOL).
Gold has been under attack in recent sessions with futures surrendering the $1,600-an-ounce mark. [Gold Miner ETFs Lowest Since Sept 2009 After Fed Minutes]
The precious metal on Wednesday dropped to its lowest price since July. Technical analysts are also talking about the so-called death cross in gold, with the 50-day moving average crossing below the 200-day average.
“It’s clear the funds are not coming in to support the market, and I don’t see any physical interest either. There has been a clear rotation out of gold and other commodities into equities,” said Bill O’Neill, partner of commodities investment firm LOGIC Advisors, in a separate Reuters report.
SPDR Gold Trust
Full disclosure: Tom Lydon’s clients own GLD.