Mining Weekly reported that gold rebounded by more than 1 percent in Monday trading on technical buying although ETF were meanwhile shedding their holdings to the lowest levels seen in three years.
US investors normally dominate the gold ETF market but in Q2 that changed.
Bloomberg reported that the first day of trading for a first gold ETF in yuan changed prices very little.
Following the massive sell-off of gold in September, the price of the yellow metal has stabilized is headed for recovery after dropping from the record high of $1923.70 on September 6.
Gold prices ended sharply lower on Friday, as the approval of Greece’s austerity package took a huge bite out of the metal’s safe-haven demand.
Etfdailynews.com reports that Lion Fund Management Co becomes the first company in China to create a fund allowed to invest in foreign exchange- traded funds backed by gold.
By Kishori Krishnan Exclusive To Gold Investing News Every gold bug would cringe at this. Fraudulent games have expanded in the gold market. There are toxic bonds and phony gold bars. What does one rely on? Several conspiracy theories abound about the massive gold-fraud orchestrated by central banks, and the fact that the US Federal [...]
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