World’s Largest Gold ETF Sees Holdings Rise 1.8 percent to 924.94 Tonnes In One Day

Summary:
◆ Gold prices have inched 0.3% higher today as a sharp drop of nearly 2% yesterday has attracted bargain hunters ◆ Gold tested support at ,500/oz after another peculiar sell off in the futures market saw prices fall in two hours on the COMEX yesterday with most of the selling coming after European and London markets had closed ◆ The sell off came despite robust demand for gold globally as seen in the world’s largest gold ETF seeing yesterday, in just one day, its holdings rise 1.81% to 924.94 tonnes ◆ The smart money continues to diversify into gold due to the concerns about the outlook for risk assets ◆ Prudent money is moving to the safety of fully segregated gold coin and bar ownership outside of large debtor nations and the vulnerable global banking

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