Investors have pulled $759 million from GLD this year after yanking $3.23 billion from the fund last year. In 2014, only two ETFs suffered greater outflows than GLD.
“Goldman Sachs Group Inc.’s Jeffrey Currie says the worst is yet to come for gold, and that prices could fall below $1,000 an ounce for the first time since 2009. Currie isn’t alone in predicting more declines. ABN Amro Bank NV’s Georgette Boele and Robin Bhar of Societe Generale AG say bullion will approach $1,000 by December,” according to Bloomberg.
SPDR Gold Shares
Tom Lydon’s clients own shares of GLD. ETF Trends editorial team contributed to this post.