Gold ETP liquidation continues for fourth consecutive week. February saw the largest decline in gold ETP holdings (ounces) on record, with 3.4moz liquidated since the beginning of the month. ETP investors appear to be rotating towards more cyclically-lined assets, as recent stronger economic data has spurred optimism towards global recovery. [Gold ETFs See Record Outflow in February]
Key events to watch this week . Bank of England, the European Central Bank and Bank of Japan will be announcing interest rates this week and signalling intentions for any additional stimulus. Given the recent weakness in gold prices, any sign of new easing by those central banks will be a potential catalyst for a price rebound. US non-farm payrolls will also be monitored closely by investors as unemployment rate has been identified as a key target for the Fed.
ETFS Physical Swiss Gold Shares (NYSEArca: SGOL)
