Despite the ebullience surrounding gold in the futures pits and mining ETFs over the past month, physically-backed ETFs such as GLD are still having difficulty stemming the outflows tide. GLD was once the second-largest ETF by assets in the world. Now, it is merely the fifth-largest in the U.S.
Last month, investors pulled $227 million from GLD. IAU and SGOL saw combined August outflows of $27 million, according to Index Universe data. Since the start of the third quarter on July 1, combined outflows from those three ETFs are close to $2 billion.
SPDR Gold Shares
ETF Trends editorial team contributed to this post. Tom Lydon’s clients own shares of GLD.