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ETF Gold holdings rise by 8 tons

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NEW YORK (Scrap Register): Gold-backed global exchange-traded funds posted a large inflow Wednesday, said Commerzbank.

This came as the U.S. Dow Jones Industrial Average fell by more than 800 points. Meanwhile, the gold ETFs tracked by Bloomberg registered an inflow of around eight tonnes yesterday, Commerzbank added.

This is attributable to the SPDR Gold Trust in the U.S. and was the first daily inflow into this ETF since July.

Gold ETFs track the price of the commodity, with metal put into storage to back the shares. They give investors exposure to the price of gold without costs such as assaying and storage.

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