We have seen heavy activity in terms of fund flows that has persisted in Gold related ETFs, particularly GLD (SPDR Gold, Expense Ratio 0.40%) which remains the largest fund in the category in terms of assets under management $38.2 billion.

Gold prices have unquestionably bounced sharply off of their late June intraday lows, (reference price intraday low of $114.68 in GLD compared to current levels $121.13) but the steady asset outflows in GLD have continued.

The fund has shed another $1 billion in terms of redemption flows in recent trading sessions, bringing the year to date total to a massive $19.36 billion in terms of net outflows.

Related fund, IAU (iShares Gold, Expense Ratio, 0.25%), which has a considerably smaller asset base ($7.1 billion) has seen $1.72 billion leave the fund during this same time period.

The physical Gold ETF space, despite the recent trend of assets flowing out, is still very large in terms of its collective asset size with a third fund SGOL (ETFS Physical Swiss Gold Shares, Expense Ratio 0.39%) amassing $1.19 billion in AUM since its September of 2009 launch.

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