GLD is down 25.5% year-to-date. The plunging gold prices have also caused large redemptions in physical gold ETFs. According to BlackRock data, gold ETP physical holdings have declined $28.2 billion year-to-date. According to IndexUniverse data, GLD has lost $18.4 billion in assets so far this year.
SPDR Gold Trust
For more information on gold, visit our gold category.
Max Chen contributed to this article.
Full disclosure: Tom Lydon’s clients own GLD.