Investors pulled $2.2 billion from GLD, the world’s largest bullion-backed ETF last year, after pulling $3.2 billion from the fund in 2014. However, as of Jan. 14, investors added nearly $436 million to GLD and IAU on a combined basis since the start of this year.

“Interest in the precious metal is being driven by demand for a safe haven after losses spread across Chinese and U.S. equity markets and oil dipped below $30 a barrel. Also helping the case for gold: China boosted reserves for the sixth straight month in December amid price declines through the end of last year, according to the People’s Bank of China,” reports Bloomberg.

SPDR Gold Shares

Tom Lydon’s clients own shares of GLD.