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Gold ETF holdings post weekly decline of 21 tons

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NEW YORK (Scrap Register): The slide in gold prices last week was accompanied by pronounced outflows from global exchange-traded funds, including 6.5 tons on Friday, said Commerzbank in a snippet.

“The gold ETFs tracked by Bloomberg decreased by a good 21 tons last week, thereby reversing the lion’s share of the inflows seen since the start of the year,” Commerzbank added.

Most gold ETFs trade like a stock but track the price of the commodity, with metal put into storage to back the shares.

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