Money managers have been exiting gold funds. The SPDR Gold Shares ETF (NYSEArca: GLD) saw $218.2 million in net outflows in the week ended July 26, according to IndexUniverse, even as the ETF gained 2.9% over the last week and rose 8.9% over the past month. [Futures-Based ETF in Focus as Gold Goes Into Backwardation]
In an interesting turnaround, the Market Vectors GOld Miners ETF (NYSEArca: GDX), one of the worst performing areas so far this year, saw $277.8 million in asset inflows in the week ended July 26. [Gold Mining ETFs: Contrarian Buys?]
SPDR Gold Shares ETF
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Max Chen contributed to this article.