Investors Propel Purchases of Gold ETF on Geopolitics Trigger
By GCRU Gold News on Friday, April 21 2017, 01:56 - Permalink
Investors stepped up buying of the world’s largest gold-backed exchanged traded fund by the most in seven months amid concern about the outcome of European elections and a more aggressive U.S. stance on North Korea, Syria and Iran.
Holdings in SPDR Gold Shares climbed 1.4 percent Wednesday to 860.76 metric tons, the biggest one-day increase since September and the highest since Dec. 7. With gold futures up 11 percent this year, buyers are pouring funds into the non-interest bearing metal as the dollar fluctuates and Treasury yields hover close to the lowest levels this year.